Regions Financial Corporation’s (RF) “Hold” Rating Reiterated at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Regions Financial Corporation (NYSE:RF) in a report released on Friday. Keefe, Bruyette & Woods currently has a $15.50 price objective on the bank’s stock.
Other research analysts have also issued reports about the stock. Bank of America Corporation reissued a buy rating and set a $17.00 target price on shares of Regions Financial Corporation in a research note on Wednesday, July 26th. BidaskClub raised shares of Regions Financial Corporation from a sell rating to a hold rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued a hold rating and set a $15.00 target price on shares of Regions Financial Corporation in a research note on Friday, June 23rd. Deutsche Bank AG reissued a hold rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Finally, Jefferies Group LLC reissued a hold rating and set a $16.00 target price on shares of Regions Financial Corporation in a research note on Friday, August 11th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $14.89.
Shares of Regions Financial Corporation (NYSE RF) opened at 14.02 on Friday. The company’s 50 day moving average is $14.19 and its 200-day moving average is $14.28. Regions Financial Corporation has a one year low of $9.45 and a one year high of $16.03. The firm has a market capitalization of $16.76 billion, a price-to-earnings ratio of 14.65 and a beta of 1.33.
Regions Financial Corporation (NYSE:RF) last issued its 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%. Regions Financial Corporation’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. Equities analysts expect that Regions Financial Corporation will post $1.00 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.09 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.57%. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio is currently 37.89%.
Regions Financial Corporation declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in shares. This buyback authorization authorizes the bank to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, CFO David J. Turner, Jr. sold 65,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the transaction, the chief financial officer now owns 121,160 shares in the company, valued at $1,811,342. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $15.23, for a total transaction of $152,300.00. Following the transaction, the director now owns 32,188 shares of the company’s stock, valued at approximately $490,223.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of RF. FNY Partners Fund LP bought a new position in Regions Financial Corporation during the first quarter worth about $103,000. Bronfman E.L. Rothschild L.P. boosted its position in Regions Financial Corporation by 10.2% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock worth $104,000 after purchasing an additional 666 shares during the period. Lloyds Banking Group plc bought a new position in Regions Financial Corporation during the second quarter worth about $108,000. Seven Eight Capital LP bought a new position in Regions Financial Corporation during the second quarter worth about $111,000. Finally, Sun Life Financial INC boosted its position in Regions Financial Corporation by 98,133.3% during the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after purchasing an additional 8,832 shares during the period. Institutional investors own 75.56% of the company’s stock.
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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