Regions Financial Corporation’s (RF) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods
Regions Financial Corporation (NYSE:RF)‘s stock had its “hold” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a report issued on Tuesday. They currently have a $15.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 1.12% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on RF. Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 price objective on shares of Regions Financial Corporation in a report on Friday, August 11th. BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Robert W. Baird lowered Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a report on Monday. Piper Jaffray Companies restated a “hold” rating and issued a $14.50 target price on shares of Regions Financial Corporation in a report on Thursday, August 17th. Finally, Vining Sparks raised Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 26th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Regions Financial Corporation presently has an average rating of “Hold” and a consensus price target of $14.78.
Regions Financial Corporation (RF) traded down 0.39% during mid-day trading on Tuesday, reaching $15.17. 9,730,855 shares of the company were exchanged. Regions Financial Corporation has a 12 month low of $9.78 and a 12 month high of $16.03. The stock’s 50-day moving average is $14.22 and its 200-day moving average is $14.25. The company has a market cap of $18.13 billion, a P/E ratio of 15.85 and a beta of 1.34.
Regions Financial Corporation (NYSE:RF) last announced its quarterly 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. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. Equities analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current year.
Regions Financial Corporation announced that its board has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $1.47 billion in shares. This buyback authorization permits the bank to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In related news, EVP Scott M. Peters sold 13,689 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 147,528 shares in the company, valued at approximately $2,155,384.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $15.23, for a total value of $152,300.00. Following the sale, the director now owns 32,188 shares in the company, valued at $490,223.24. The disclosure for this sale can be found here. Insiders sold 124,514 shares of company stock valued at $1,846,733 in the last quarter. 0.52% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of RF. Bailard Inc. increased its stake in shares of Regions Financial Corporation by 602.4% in the first quarter. Bailard Inc. now owns 134,309 shares of the bank’s stock valued at $1,952,000 after buying an additional 115,187 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Regions Financial Corporation during the 1st quarter worth about $56,133,000. Teacher Retirement System of Texas grew its holdings in Regions Financial Corporation by 729.5% during the 1st quarter. Teacher Retirement System of Texas now owns 735,754 shares of the bank’s stock worth $10,691,000 after acquiring an additional 647,052 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Regions Financial Corporation during the 2nd quarter worth about $1,259,000. Finally, State of Alaska Department of Revenue grew its holdings in Regions Financial Corporation by 45.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 77,823 shares of the bank’s stock worth $1,139,000 after acquiring an additional 24,390 shares during the last quarter. Hedge funds and other 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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