Regions Financial Corp. (RF) Sees Strong Trading Volume on Earnings Beat
Regions Financial Corp. (NYSE:RF) saw strong trading volume on Tuesday following a stronger than expected earnings report. 24,107,089 shares were traded during mid-day trading, an increase of 49% from the previous session’s volume of 16,224,989 shares.The stock last traded at $10.08 and had previously closed at $10.01.
The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. The company earned $1.46 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the business earned $0.18 earnings per share. Regions Financial Corp.’s revenue for the quarter was up .8% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be given a $0.065 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.26 annualized dividend and a dividend yield of 2.60%. Regions Financial Corp.’s dividend payout ratio is 32.91%.
Several equities research analysts have recently weighed in on the company. Barclays PLC reissued a “sell” rating and issued a $10.00 price objective on shares of Regions Financial Corp. in a research report on Tuesday, October 11th. FBR & Co cut Regions Financial Corp. from an “outperform” rating to a “market perform” rating and set a $10.50 price objective for the company. in a research report on Tuesday, October 11th. Wedbush began coverage on Regions Financial Corp. in a research report on Thursday, October 6th. They issued an “outperform” rating and a $12.00 target price for the company. They noted that the move was a valuation call. Raymond James Financial Inc. cut Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 target price for the company. in a research report on Thursday, October 6th. Finally, Keefe, Bruyette & Woods raised Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 target price for the company in a research report on Thursday, August 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.34.
In other Regions Financial Corp. news, EVP Scott M. Peters sold 23,391 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $9.73, for a total value of $227,594.43. Following the sale, the executive vice president now owns 201,391 shares in the company, valued at approximately $1,959,534.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ellen S. Jones sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $9.53, for a total value of $95,300.00. Following the completion of the sale, the executive vice president now owns 54,886 shares in the company, valued at approximately $523,063.58. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC boosted its stake in Regions Financial Corp. by 0.6% in the second quarter. MCF Advisors LLC now owns 14,243 shares of the company’s stock valued at $121,000 after buying an additional 85 shares during the last quarter. Pitcairn Co. raised its position in Regions Financial Corp. by 0.4% in the second quarter. Pitcairn Co. now owns 22,421 shares of the company’s stock valued at $191,000 after buying an additional 90 shares during the period. Investors Capital Advisory Services raised its position in Regions Financial Corp. by 0.5% in the second quarter. Investors Capital Advisory Services now owns 42,678 shares of the company’s stock valued at $363,000 after buying an additional 224 shares during the period. Lynch & Associates IN raised its position in Regions Financial Corp. by 0.9% in the second quarter. Lynch & Associates IN now owns 32,964 shares of the company’s stock valued at $281,000 after buying an additional 300 shares during the period. Finally, Westbourne Investment Advisors Inc. raised its position in Regions Financial Corp. by 1.8% in the second quarter. Westbourne Investment Advisors Inc. now owns 16,800 shares of the company’s stock valued at $143,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.
The firm has a 50-day moving average of $9.90 and a 200-day moving average of $9.29. The company has a market cap of $12.70 billion, a PE ratio of 12.73 and a beta of 1.44.
About Regions Financial Corp.
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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