Regions Financial Corp. (RF) Stock Rating Lowered by Jefferies Group
Regions Financial Corp. (NYSE:RF) was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report issued on Monday. They presently have a $14.00 price target on the stock, up from their prior price target of $11.50. Jefferies Group’s target price would indicate a potential upside of 6.22% from the company’s previous close.
Several other equities research analysts have also issued reports on RF. TheStreet raised shares of Regions Financial Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Sanford C. Bernstein lowered shares of Regions Financial Corp. from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $9.56 to $9.50 in a research note on Tuesday, August 16th. They noted that the move was a valuation call. 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 research note on Thursday, August 25th. Raymond James Financial Inc. raised shares of Regions Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $11.50 price objective for the company in a research note on Thursday, August 25th. Finally, Credit Suisse Group AG set a $9.50 price objective on shares of Regions Financial Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Regions Financial Corp. presently has an average rating of “Hold” and a consensus target price of $10.65.
Regions Financial Corp. (NYSE:RF) opened at 13.18 on Monday. Regions Financial Corp. has a 1-year low of $7.00 and a 1-year high of $13.54. The company has a 50-day moving average price of $11.42 and a 200-day moving average price of $9.90. The firm has a market capitalization of $16.22 billion, a P/E ratio of 15.49 and a beta of 1.35.
Regions Financial Corp. (NYSE:RF) last released its quarterly earnings data on Tuesday, October 18th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. Regions Financial Corp. had a net margin of 19.43% and a return on equity of 7.03%. The business earned $1.46 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Regions Financial Corp.’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that Regions Financial Corp. will post $0.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be paid a dividend of $0.065 per share. The ex-dividend date is Wednesday, December 7th. This represents a $0.26 annualized dividend and a dividend yield of 1.97%. Regions Financial Corp.’s dividend payout ratio (DPR) is currently 30.59%.
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In related news, EVP Brett D. Couch sold 32,342 shares of the stock in a transaction that occurred on Thursday, October 20th. The shares were sold at an average price of $10.63, for a total value of $343,795.46. Following the transaction, the executive vice president now directly owns 251,064 shares in the company, valued at $2,668,810.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William E. Horton sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the transaction, the executive vice president now owns 81,434 shares in the company, valued at $1,057,827.66. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RF. RWC Asset Management LLP raised its position in shares of Regions Financial Corp. by 63.8% in the third quarter. RWC Asset Management LLP now owns 256,795 shares of the company’s stock valued at $2,535,000 after buying an additional 100,032 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in shares of Regions Financial Corp. during the third quarter valued at $643,000. Piedmont Investment Advisors LLC acquired a new position in shares of Regions Financial Corp. during the third quarter valued at $1,832,000. Intl Fcstone Inc. acquired a new position in shares of Regions Financial Corp. during the third quarter valued at $1,211,000. Finally, Eaton Vance Management raised its position in shares of Regions Financial Corp. by 0.6% in the third quarter. Eaton Vance Management now owns 1,797,992 shares of the company’s stock valued at $17,746,000 after buying an additional 10,345 shares in the last quarter. Institutional investors and hedge funds own 72.31% 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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