Regions Financial Corp. Rating Lowered to Buy at Goldman Sachs Group Inc. (RF)
Regions Financial Corp. (NYSE:RF) was downgraded by Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sandler O’Neill cut their price target on shares of Regions Financial Corp. to $11.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of Regions Financial Corp. from $13.00 to $12.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at Compass Point cut their price target on shares of Regions Financial Corp. from $10.50 to $10.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $9.90.
Regions Financial Corp. (NYSE:RF) traded down 0.52% during mid-day trading on Thursday, hitting $9.54. 17,386,308 shares of the company’s stock traded hands. Regions Financial Corp. has a 1-year low of $6.19 and a 1-year high of $10.52. The stock’s 50-day moving average is $9.79 and its 200-day moving average is $9.05. The company has a market cap of $13.316 billion and a P/E ratio of 11.81.
Regions Financial Corp. (NYSE:RF) last announced its earnings results on Tuesday, October 22nd. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.21 by $0.01. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, December 11th.
Regions Financial Corporation (NYSE:RF) is a financial holding company.
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