Regions Financial Corp. (NYSE:RF) – Research analysts at Jefferies Group lowered their FY2016 earnings estimates for Regions Financial Corp. in a report released on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the firm will earn $0.85 per share for the year, down from their prior estimate of $0.86. Jefferies Group has a “Buy” rating and a $9.50 price target on the stock. Jefferies Group also issued estimates for Regions Financial Corp.’s Q1 2017 earnings at $0.22 EPS, Q3 2017 earnings at $0.24 EPS and FY2017 earnings at $0.94 EPS.
Several other equities research analysts have also recently weighed in on the stock. Raymond James Financial Inc. cut shares of Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 price objective for the company. in a research report on Thursday, October 6th. TheStreet cut shares of Regions Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Wells Fargo & Co. restated a “hold” rating on shares of Regions Financial Corp. in a research report on Saturday, July 9th. Sanford C. Bernstein cut shares of Regions Financial Corp. from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $9.56 to $9.50 in a research report on Tuesday, August 16th. They noted that the move was a valuation call. Finally, Barclays PLC restated a “sell” rating and issued a $10.00 price objective on shares of Regions Financial Corp. in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $10.34.
Shares of Regions Financial Corp. (NYSE:RF) opened at 10.05 on Thursday. The stock’s 50 day moving average is $9.89 and its 200-day moving average is $9.25. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 12.64 and a beta of 1.44. Regions Financial Corp. has a 12-month low of $7.00 and a 12-month high of $10.47.
Regions Financial Corp. (NYSE:RF) last released 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. Regions Financial Corp. had a net margin of 18.63% and a return on equity of 6.65%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.37 billion.
Institutional investors have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. boosted 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 during the period. Kanaly Trust Co boosted its position in 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. boosted its position in 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 bought a new position in Regions Financial Corp. during the second quarter worth approximately $119,000. Finally, Woodmont Investment Counsel LLC boosted its position in 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. 74.29% of the stock is owned by hedge funds and other institutional investors.
In other Regions Financial Corp. news, EVP Ellen S. Jones sold 10,000 shares of Regions Financial Corp. 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 of the company’s stock, valued at $523,063.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott M. Peters sold 23,391 shares of Regions Financial Corp. stock in a transaction on Friday, August 26th. The stock was sold at an average price of $9.73, for a total transaction of $227,594.43. Following the transaction, the executive vice president now directly owns 201,391 shares of the company’s stock, valued at $1,959,534.43. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be given a dividend of $0.065 per share. The ex-dividend date is Wednesday, December 7th. This represents a $0.26 dividend on an annualized basis and a yield of 2.59%. Regions Financial Corp.’s dividend payout ratio (DPR) is 32.91%.
About Regions Financial Corp.
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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