Regions Financial Corp. (NYSE:RF) was downgraded by stock analysts at Raymond James Financial Inc. from a “strong-buy” rating to an “outperform” rating in a report issued on Thursday. They presently have a $10.50 price objective on the stock. Raymond James Financial Inc.’s target price indicates a potential upside of 1.65% from the company’s current price.
RF has been the topic of a number of other reports. Keefe, Bruyette & Woods upgraded shares of Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 price target on the stock in a research note on Thursday, August 25th. Credit Suisse Group AG reiterated a “hold” rating and set a $9.50 price target on shares of Regions Financial Corp. in a research note on Wednesday, July 20th. FBR & Co reiterated a “buy” rating and set a $10.50 price target on shares of Regions Financial Corp. in a research note on Wednesday, July 20th. Sanford C. Bernstein lowered shares of Regions Financial Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $9.56 to $9.50 in a research note on Tuesday, August 16th. They noted that the move was a valuation call. Finally, TheStreet downgraded Regions Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Regions Financial Corp. currently has a consensus rating of “Buy” and a consensus target price of $10.34.
Regions Financial Corp. (NYSE:RF) opened at 10.33 on Thursday. The company has a 50 day moving average of $9.82 and a 200 day moving average of $9.18. Regions Financial Corp. has a 12 month low of $7.00 and a 12 month high of $10.43. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 12.99 and a beta of 1.44.
Regions Financial Corp. (NYSE:RF) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. On average, equities analysts predict that Regions Financial Corp. will post $0.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Wednesday, September 7th. Regions Financial Corp.’s dividend payout ratio (DPR) is 32.91%.
In other Regions Financial Corp. news, EVP Ellen S. Jones sold 10,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $9.53, for a total value of $95,300.00. Following the sale, the executive vice president now owns 54,886 shares of the company’s stock, valued at $523,063.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott M. Peters sold 23,391 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $9.73, for a total value of $227,594.43. Following the completion of the sale, the executive vice president now directly owns 201,391 shares in the company, valued at approximately $1,959,534.43. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC raised its stake in Regions Financial Corp. by 262.7% in the first quarter. Riverhead Capital Management LLC now owns 1,046,263 shares of the company’s stock valued at $8,213,000 after buying an additional 757,803 shares during the period. AXA purchased a new stake in Regions Financial Corp. during the first quarter valued at $5,708,000. Pictet Asset Management Ltd. raised its stake in Regions Financial Corp. by 1.5% in the first quarter. Pictet Asset Management Ltd. now owns 699,663 shares of the company’s stock valued at $5,262,000 after buying an additional 10,100 shares during the period. Rafferty Asset Management LLC raised its stake in Regions Financial Corp. by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 176,866 shares of the company’s stock valued at $1,388,000 after buying an additional 58,290 shares during the period. Finally, Lumbard & Kellner LLC raised its stake in Regions Financial Corp. by 0.8% in the first quarter. Lumbard & Kellner LLC now owns 301,350 shares of the company’s stock valued at $2,366,000 after buying an additional 2,275 shares during the period. 74.29% of the stock is currently owned by institutional investors.
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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