Regions Financial Corp. (RF) Upgraded at FBR & Co
FBR & Co upgraded shares of Regions Financial Corp. (NYSE:RF) from a market perform rating to an outperform rating in a report published on Monday. FBR & Co currently has $15.00 price target on the stock, up from their previous price target of $10.50.
Several other research firms also recently issued reports on RF. Wedbush initiated coverage on shares of Regions Financial Corp. in a report on Thursday, October 6th. They set an outperform rating and a $12.00 price objective for the company. They noted that the move was a valuation call. Evercore ISI reaffirmed a buy rating and set a $10.00 price objective (up from $9.00) on shares of Regions Financial Corp. in a report on Friday, July 22nd. Credit Suisse Group AG set a $9.50 price objective on shares of Regions Financial Corp. and gave the stock a hold rating in a report on Wednesday, September 14th. Keefe, Bruyette & Woods raised shares of Regions Financial Corp. from an underperform rating to a market perform rating and set a $10.50 price objective for the company in a report on Thursday, August 25th. Finally, Drexel Hamilton reaffirmed a hold rating on shares of Regions Financial Corp. in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Regions Financial Corp. has an average rating of Hold and an average price target of $10.60.
Regions Financial Corp. (NYSE:RF) opened at 12.89 on Monday. The firm has a 50 day moving average of $10.76 and a 200-day moving average of $9.69. Regions Financial Corp. has a one year low of $7.00 and a one year high of $13.54. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 15.15 and a beta of 1.35.
Regions Financial Corp. (NYSE:RF) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business earned $1.46 billion during the quarter, compared to the consensus estimate of $1.38 billion. Regions Financial Corp. had a net margin of 19.43% and a return on equity of 7.03%. Regions Financial Corp.’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. Equities research analysts forecast that Regions Financial Corp. will post $0.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.26 annualized dividend and a yield of 2.02%. Regions Financial Corp.’s payout ratio is currently 30.59%.
In other news, EVP Scott M. Peters sold 23,391 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 201,391 shares of the company’s stock, valued at approximately $1,959,534.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brett D. Couch sold 32,342 shares of the firm’s stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $10.63, for a total value of $343,795.46. Following the completion of the sale, the executive vice president now directly owns 251,064 shares of the company’s stock, valued at approximately $2,668,810.32. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.
Several hedge funds have recently bought and sold shares of RF. Virtus Investment Advisers Inc. acquired a new stake in Regions Financial Corp. during the third quarter worth $102,000. TradeLink Capital LLC acquired a new stake in Regions Financial Corp. during the third quarter worth $103,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Regions Financial Corp. by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,215 shares of the company’s stock worth $104,000 after buying an additional 710 shares during the last quarter. Paragon Capital Management Ltd boosted its stake in Regions Financial Corp. by 7.9% in the third quarter. Paragon Capital Management Ltd now owns 10,827 shares of the company’s stock worth $107,000 after buying an additional 796 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Regions Financial Corp. by 0.4% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 10,847 shares of the company’s stock worth $108,000 after buying an additional 48 shares during the last quarter. 75.22% of the stock is owned by hedge funds and other institutional investors.
Regions Financial Corp. Company Profile
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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