Regions Financial (RF) Given “Buy” Rating at SunTrust Banks
SunTrust Banks restated their buy rating on shares of Regions Financial (NYSE:RF) in a research note issued to investors on Wednesday morning. The firm currently has a $19.00 price target on the bank’s stock.
Other equities analysts have also issued research reports about the company. Goldman Sachs Group raised Regions Financial from a buy rating to a conviction-buy rating in a research note on Thursday, November 16th. BidaskClub raised Regions Financial from a sell rating to a hold rating in a research note on Thursday, August 3rd. FBR & Co reaffirmed a hold rating and set a $16.00 price target on shares of Regions Financial in a research note on Wednesday, October 25th. Piper Jaffray Companies reaffirmed a hold rating and set a $14.50 price target on shares of Regions Financial in a research note on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $15.50 price target on shares of Regions Financial in a research note on Friday, September 15th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Regions Financial currently has an average rating of Hold and a consensus target price of $15.48.
Shares of Regions Financial (NYSE RF) traded up $0.57 during mid-day trading on Wednesday, hitting $16.57. The stock had a trading volume of 18,101,100 shares, compared to its average volume of 15,146,023. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $18,559.54, a PE ratio of 16.67, a PEG ratio of 1.45 and a beta of 1.29. Regions Financial has a 12 month low of $13.00 and a 12 month high of $16.69.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.17%. Regions Financial’s dividend payout ratio (DPR) is currently 37.50%.
In other Regions Financial news, EVP Scott M. Peters sold 25,000 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $15.84, for a total value of $396,000.00. Following the completion of the sale, the executive vice president now directly owns 121,459 shares in the company, valued at $1,923,910.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John B. Owen sold 40,000 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total value of $626,800.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Lloyds Banking Group plc bought a new position in shares of Regions Financial during the second quarter worth about $108,000. Seven Eight Capital LP bought a new position in shares of Regions Financial during the second quarter worth about $111,000. Sun Life Financial INC grew its holdings in shares of Regions Financial 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 buying an additional 8,832 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Regions Financial by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after buying an additional 26 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Regions Financial during the second quarter worth about $139,000. Institutional investors and hedge funds own 75.70% of the company’s stock.
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About Regions Financial
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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