Regions Financial Corp. (RF) Forecasted to Post FY2018 Earnings of $1.01 Per Share
Regions Financial Corp. (NYSE:RF) – Equities researchers at Jefferies Group issued their FY2018 earnings per share estimates for shares of Regions Financial Corp. in a research report issued to clients and investors on Friday. Jefferies Group analyst K. Usdin anticipates that the brokerage will post earnings per share of $1.01 for the year. Jefferies Group currently has a “Buy” rating and a $9.50 target price on the stock.
Regions Financial Corp. (NYSE:RF) last issued its earnings results on Tuesday, July 19th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.01. The firm earned $1.40 billion during the quarter, compared to the consensus estimate of $1.37 billion. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%.
Several other research firms have also issued reports on RF. Wedbush began coverage on shares of Regions Financial Corp. in a report on Thursday. They issued an “outperform” rating and a $12.00 target price for the company. They noted that the move was a valuation call. Raymond James Financial Inc. lowered shares of Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 target price for the company. in a report on Thursday. Keefe, Bruyette & Woods upgraded shares of Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 price objective for the company in a report on Thursday, August 25th. Credit Suisse Group AG set a $9.50 price objective on shares of Regions Financial Corp. and gave the company a “hold” rating in a report on Wednesday, September 14th. Finally, Sanford C. Bernstein lowered shares of Regions Financial Corp. from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $9.56 to $9.50 in a report on Tuesday, August 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $10.34.
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Regions Financial Corp. (NYSE:RF) opened at 10.46 on Monday. The stock has a 50 day moving average of $9.82 and a 200 day moving average of $9.18. The company has a market cap of $13.13 billion, a P/E ratio of 13.16 and a beta of 1.44. Regions Financial Corp. has a 52 week low of $7.00 and a 52 week high of $10.47.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Wednesday, September 7th. Regions Financial Corp.’s dividend payout ratio is presently 32.91%.
In other news, EVP Ellen S. Jones sold 10,000 shares of the company’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 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott M. Peters sold 23,391 shares of the company’s 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 sale, the executive vice president now directly owns 201,391 shares of the company’s stock, valued at approximately $1,959,534.43. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. AJO LP raised its stake in Regions Financial Corp. by 665.8% in the second quarter. AJO LP now owns 12,532,352 shares of the company’s stock worth $106,650,000 after buying an additional 10,895,919 shares during the last quarter. Bank of Montreal Can acquired a new stake in Regions Financial Corp. during the second quarter worth about $44,648,000. Basswood Capital Management L.L.C. raised its stake in Regions Financial Corp. by 70.7% in the second quarter. Basswood Capital Management L.L.C. now owns 11,942,752 shares of the company’s stock worth $101,633,000 after buying an additional 4,944,933 shares during the last quarter. Samlyn Capital LLC raised its stake in Regions Financial Corp. by 66.0% in the first quarter. Samlyn Capital LLC now owns 11,611,786 shares of the company’s stock worth $91,152,000 after buying an additional 4,616,877 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in Regions Financial Corp. during the second quarter worth about $36,379,000. 74.29% of the stock is owned by institutional investors and hedge funds.
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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