Wedbush began coverage on shares of Regions Financial Corp. (NYSE:RF) in a research note issued on Thursday. The firm set an “outperform” rating and a $12.00 price target on the stock. Wedbush’s price target indicates a potential upside of 16.17% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other brokerages also recently commented on RF. FBR & Co reaffirmed a “buy” rating and issued a $10.50 price target on shares of Regions Financial Corp. in a report on Wednesday, July 20th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corp. in a report on Wednesday, June 15th. Evercore ISI reaffirmed a “buy” rating and issued a $10.00 price target (up previously from $9.00) on shares of Regions Financial Corp. in a report on Friday, July 22nd. Vetr raised shares of Regions Financial Corp. from a “buy” rating to a “strong-buy” rating and set a $10.50 price target for the company in a report on Monday, June 13th. Finally, Credit Suisse Group AG set a $9.50 price target on shares of Regions Financial Corp. and gave the company a “hold” rating in a report on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial Corp. presently has a consensus rating of “Buy” and an average target price of $10.34.
Regions Financial Corp. (NYSE:RF) opened at 10.33 on Thursday. The stock has a market cap of $12.97 billion, a P/E ratio of 12.99 and a beta of 1.44. The firm’s 50 day moving average price is $9.82 and its 200-day moving average price is $9.18. Regions Financial Corp. has a 12-month low of $7.00 and a 12-month high of $10.43.
Regions Financial Corp. (NYSE:RF) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. Regions Financial Corp. had a net margin of 18.63% and a return on equity of 6.65%. The business earned $1.40 billion during the quarter, compared to the consensus estimate of $1.37 billion. Equities research analysts anticipate that Regions Financial Corp. will post $0.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were paid a dividend of $0.065 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.26 annualized dividend and a dividend yield of 2.52%. Regions Financial Corp.’s payout ratio is currently 32.91%.
In related news, EVP Ellen S. Jones sold 10,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $9.53, for a total transaction of $95,300.00. Following the completion of the transaction, the executive vice president now directly owns 54,886 shares in the company, valued at $523,063.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott M. Peters sold 23,391 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $9.73, for a total transaction of $227,594.43. Following the transaction, the executive vice president now owns 201,391 shares of the company’s stock, valued at $1,959,534.43. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. increased its position in Regions Financial Corp. by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,215 shares of the company’s stock worth $104,000 after buying an additional 710 shares in the last quarter. Kanaly Trust Co increased its position in shares of Regions Financial Corp. by 9.6% in the second quarter. Kanaly Trust Co now owns 13,044 shares of the company’s stock worth $111,000 after buying an additional 1,145 shares during the period. Wesbanco Bank Inc. increased its position in shares of Regions Financial Corp. by 14.2% in the second quarter. Wesbanco Bank Inc. now owns 13,329 shares of the company’s stock worth $114,000 after buying an additional 1,662 shares during the period. Paradigm Financial Advisors LLC purchased a new position in shares of Regions Financial Corp. during the second quarter worth $119,000. Finally, Woodmont Investment Counsel LLC increased its position in shares of Regions Financial Corp. by 3.1% in the second quarter. Woodmont Investment Counsel LLC now owns 14,144 shares of the company’s stock worth $120,000 after buying an additional 426 shares during the period. Institutional investors own 74.29% of the company’s stock.
Regions Financial Corp. 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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