Robert W. Baird Lowers Regions Financial Corporation (RF) to Underperform
Robert W. Baird downgraded shares of Regions Financial Corporation (NYSE:RF) from a neutral rating to an underperform rating in a research note released on Monday, Marketbeat.com reports. The brokerage currently has $13.00 price target on the bank’s stock.
A number of other equities analysts also recently issued reports on RF. BidaskClub upgraded Regions Financial Corporation from a sell rating to a hold rating in a research report on Friday, June 9th. Keefe, Bruyette & Woods set a $15.00 price objective on Regions Financial Corporation and gave the stock a hold rating in a research report on Tuesday, June 20th. Royal Bank Of Canada restated a hold rating and set a $15.00 price objective on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Instinet raised their price objective on Regions Financial Corporation from $15.00 to $16.00 and gave the stock a neutral rating in a research report on Friday, June 30th. Finally, Deutsche Bank AG restated a hold rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Four investment analysts have rated the stock with a sell rating, fourteen 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 presently has an average rating of Hold and an average price target of $14.78.
Shares of Regions Financial Corporation (NYSE RF) opened at 15.09 on Monday. The stock has a 50 day moving average price of $14.24 and a 200-day moving average price of $14.26. The company has a market capitalization of $18.03 billion, a PE ratio of 15.77 and a beta of 1.34. Regions Financial Corporation has a 52 week low of $9.78 and a 52 week high of $16.03.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Regions Financial Corporation will post $1.00 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a dividend of $0.09 per share. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.39%. Regions Financial Corporation’s payout ratio is currently 37.89%.
Regions Financial Corporation announced that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Scott M. Peters sold 13,689 shares of the business’s 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 completion of the sale, the executive vice president now owns 147,528 shares in the company, valued at $2,155,384.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the sale, the chief financial officer now owns 121,160 shares of the company’s stock, valued at approximately $1,811,342. 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. Corporate insiders own 0.52% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RF. FNY Partners Fund LP bought a new stake in shares of Regions Financial Corporation during the first quarter valued at approximately $103,000. Lloyds Banking Group plc bought a new stake in shares of Regions Financial Corporation during the second quarter valued at approximately $108,000. Seven Eight Capital LP bought a new stake in shares of Regions Financial Corporation during the second quarter valued at approximately $111,000. Sun Life Financial INC increased its holdings in shares of 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 valued at $129,000 after acquiring an additional 8,832 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in shares of Regions Financial Corporation by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 75.56% of the company’s stock.
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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