Regions Financial Corp. (RF) Lowered to “Market Perform” at FBR & Co
Regions Financial Corp. (NYSE:RF) was downgraded by analysts at FBR & Co from an “outperform” rating to a “market perform” rating in a report released on Tuesday. They presently have a $10.50 price target on the stock. FBR & Co’s target price points to a potential upside of 1.25% from the stock’s current price.
Several other equities research analysts also recently issued reports on the company. Vetr upgraded Regions Financial Corp. from a “buy” rating to a “strong-buy” rating and set a $10.50 price objective on the stock in a report on Monday, June 13th. Deutsche Bank AG reiterated a “hold” rating on shares of Regions Financial Corp. in a report on Wednesday, June 15th. Bank of America Corp. downgraded Regions Financial Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. TheStreet downgraded Regions Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Jefferies Group reiterated a “buy” rating and issued a $9.50 price objective on shares of Regions Financial Corp. in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.34.
Shares of Regions Financial Corp. (NYSE:RF) opened at 10.37 on Tuesday. Regions Financial Corp. has a 12 month low of $7.00 and a 12 month high of $10.47. The company has a 50-day moving average price of $9.84 and a 200-day moving average price of $9.22. The company has a market capitalization of $13.02 billion, a P/E ratio of 13.04 and a beta of 1.44.
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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 Thomson Reuters’ 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 analyst estimates of $1.37 billion. On average, analysts forecast that Regions Financial Corp. will post $0.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a $0.065 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.26 annualized dividend and a dividend yield of 2.51%. Regions Financial Corp.’s dividend payout ratio is currently 32.91%.
In related news, 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 completion of the transaction, the executive vice president now directly owns 201,391 shares of the company’s stock, valued at $1,959,534.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP C. Keith Herron sold 38,753 shares of Regions Financial Corp. stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $9.38, for a total value of $363,503.14. Following the transaction, the executive vice president now directly owns 290,384 shares of the company’s stock, valued at $2,723,801.92. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of 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 valued at $104,000 after buying an additional 710 shares in the last quarter. Kanaly Trust Co boosted 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 valued at $111,000 after buying an additional 1,145 shares in the last quarter. Wesbanco Bank Inc. boosted 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 valued at $114,000 after buying an additional 1,662 shares in the last quarter. Paradigm Financial Advisors LLC purchased a new position in shares of Regions Financial Corp. during the second quarter valued at about $119,000. Finally, Woodmont Investment Counsel LLC boosted 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 valued at $120,000 after buying an additional 426 shares in the last quarter. 74.29% of the stock is owned by hedge funds and other 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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