Regions Financial Corporation (RF) Rating Reiterated by Keefe, Bruyette & Woods
Regions Financial Corporation (NYSE:RF)‘s stock had its “hold” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a report released on Wednesday. They currently have a $15.50 price target on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 10.79% from the company’s current price.
Several other research firms have also issued reports on RF. BidaskClub upgraded shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Bank of America Corporation upgraded shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $15.00 to $17.00 in a research report on Thursday, May 4th. Vining Sparks upgraded shares of Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 26th. Royal Bank Of Canada reiterated a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Regions Financial Corporation currently has an average rating of “Hold” and an average price target of $14.63.
Regions Financial Corporation (RF) opened at 13.99 on Wednesday. Regions Financial Corporation has a one year low of $9.37 and a one year high of $16.03. The stock has a 50 day moving average price of $14.59 and a 200 day moving average price of $14.46. The firm has a market capitalization of $16.72 billion, a P/E ratio of 14.62 and a beta of 1.31.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. On average, equities analysts predict that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
Regions Financial Corporation declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that permits the company to buyback $1.47 billion in shares. This buyback authorization permits the bank to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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In related news, EVP Fournier J. Gale III sold 35,825 shares of Regions Financial Corporation stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the transaction, the executive vice president now owns 109,318 shares of the company’s stock, valued at $1,594,949.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott M. Peters sold 13,689 shares of Regions Financial Corporation stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $14.61, for a total transaction of $199,996.29. Following the transaction, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at approximately $2,155,384.08. The disclosure for this sale can be found here. Insiders have sold 124,514 shares of company stock valued at $1,846,733 in the last three months. 0.52% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. FNY Partners Fund LP purchased a new position in shares of Regions Financial Corporation during the first quarter worth $103,000. Bronfman E.L. Rothschild L.P. increased its position in shares of 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 worth $104,000 after buying an additional 666 shares in the last quarter. Lloyds Banking Group plc purchased a new position in shares of Regions Financial Corporation during the second quarter worth $108,000. Seven Eight Capital LP purchased a new position in shares of Regions Financial Corporation during the second quarter worth $111,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of 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 worth $126,000 after buying an additional 28 shares in the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.
About Regions Financial Corporation
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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