Regions Financial Corp. (RF) Rating Lowered to Neutral at Piper Jaffray Cos.
Regions Financial Corp. (NYSE:RF) was downgraded by Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday.
Several other equities analysts have also recently issued reports on RF. FBR & Co reaffirmed a “buy” rating and set a $10.50 price objective on shares of Regions Financial Corp. in a report on Wednesday, July 20th. Wedbush began coverage on 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 Regions Financial Corp. and gave the stock a “hold” rating in a report on Wednesday, September 14th. Finally, Keefe, Bruyette & Woods raised 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.49.
Regions Financial Corp. (NYSE:RF) opened at 13.17 on Wednesday. Regions Financial Corp. has a 12-month low of $7.00 and a 12-month high of $13.54. The stock’s 50 day moving average price is $10.76 and its 200-day moving average price is $9.69. The stock has a market capitalization of $16.21 billion, a PE ratio of 15.48 and a beta of 1.35.
Regions Financial Corp. (NYSE:RF) last posted its quarterly earnings results on Tuesday, October 18th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. The business earned $1.46 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Regions Financial Corp. had a return on equity of 7.03% and a net margin of 19.43%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Analysts expect that Regions Financial Corp. will post $0.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, December 7th. Regions Financial Corp.’s dividend payout ratio (DPR) is 30.59%.
In other Regions Financial Corp. news, EVP Scott M. Peters sold 23,391 shares of the company’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 transaction of $227,594.43. Following the sale, the executive vice president now owns 201,391 shares in the company, valued at $1,959,534.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William D. Ritter sold 69,410 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $10.73, for a total value of $744,769.30. Following the sale, the executive vice president now owns 321,691 shares in the company, valued at approximately $3,451,744.43. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in RF. Breton Hill Capital Ltd. boosted its stake in shares of Regions Financial Corp. by 100.0% in the second quarter. Breton Hill Capital Ltd. now owns 186,120 shares of the company’s stock valued at $1,584,000 after buying an additional 93,055 shares during the last quarter. BKD Wealth Advisors LLC raised its position in Regions Financial Corp. by 1.6% in the second quarter. BKD Wealth Advisors LLC now owns 23,931 shares of the company’s stock valued at $204,000 after buying an additional 381 shares during the period. Exxonmobil Investment Management Inc. TX raised its position in Regions Financial Corp. by 4.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 327,889 shares of the company’s stock valued at $2,790,000 after buying an additional 14,335 shares during the period. DNB Asset Management AS raised its position in Regions Financial Corp. by 1.6% in the second quarter. DNB Asset Management AS now owns 188,914 shares of the company’s stock valued at $1,608,000 after buying an additional 3,000 shares during the period. Finally, British Columbia Investment Management Corp raised its position in Regions Financial Corp. by 10.2% in the second quarter. British Columbia Investment Management Corp now owns 390,015 shares of the company’s stock valued at $3,319,000 after buying an additional 36,000 shares during the period. Hedge funds and other institutional investors own 75.22% of the company’s stock.
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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