Regions Financial Corporation (NYSE:RF) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of Regions Financial Corporation (NYSE:RF) from a sell rating to a hold rating in a research report released on Thursday morning.
A number of other brokerages have also issued reports on RF. Bank of America Corporation upgraded Regions Financial Corporation from a neutral rating to a buy rating and boosted their price target for the company from $15.00 to $17.00 in a report on Thursday, May 4th. Vining Sparks upgraded Regions Financial Corporation from an outperform rating to a strong-buy rating in a report on Wednesday, July 26th. Royal Bank Of Canada reiterated a hold rating and issued a $15.00 price target on shares of Regions Financial Corporation in a report on Friday, June 23rd. Keefe, Bruyette & Woods reiterated a hold rating and issued a $14.50 price target on shares of Regions Financial Corporation in a report on Wednesday, April 19th. Finally, Wedbush lowered Regions Financial Corporation from an outperform rating to a neutral rating and set a $15.00 price target for the company. in a report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $14.13.
Shares of Regions Financial Corporation (NYSE RF) traded down 0.033% on Thursday, hitting $14.935. The stock had a trading volume of 5,790,625 shares. The company has a market cap of $17.91 billion, a P/E ratio of 15.606 and a beta of 1.31. Regions Financial Corporation has a 52-week low of $8.88 and a 52-week high of $16.03. The company has a 50-day moving average of $14.45 and a 200-day moving average of $14.44.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.09 per share. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio (DPR) is currently 29.47%.
Regions Financial Corporation announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other news, EVP Scott M. Peters sold 13,689 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total transaction of $199,996.29. Following the sale, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at approximately $2,155,384.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Fournier J. Gale III sold 35,825 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction of $522,686.75. Following the sale, the executive vice president now directly owns 109,318 shares in the company, valued at $1,594,949.62. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. FNY Partners Fund LP purchased a new stake in Regions Financial Corporation during the first quarter valued at about $103,000. Bronfman E.L. Rothschild L.P. raised its stake in Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock valued at $104,000 after buying an additional 666 shares during the last quarter. Lloyds Banking Group plc purchased a new stake in Regions Financial Corporation during the second quarter valued at about $108,000. Benjamin F. Edwards & Company Inc. raised its stake in Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock valued at $126,000 after buying an additional 28 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in Regions Financial Corporation during the first quarter valued at about $146,000. 75.40% of the stock is currently owned by institutional investors and hedge funds.
Regions Financial Corporation 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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