Regions Financial Corp.’s (RF) “Sell” Rating Reaffirmed at Barclays PLC
Regions Financial Corp. (NYSE:RF)‘s stock had its “sell” rating reissued by investment analysts at Barclays PLC in a note issued to investors on Tuesday. They currently have a $10.00 price objective on the stock. Barclays PLC’s price target indicates a potential downside of 3.57% from the company’s current price.
Other analysts have also recently issued reports about the company. Nomura restated a “hold” rating on shares of Regions Financial Corp. in a report on Saturday, July 9th. Wells Fargo & Co. restated a “hold” rating on shares of Regions Financial Corp. in a report on Saturday, July 9th. FBR & Co cut Regions Financial Corp. from an “outperform” rating to a “market perform” rating and set a $10.50 price target on the stock. in a report on Tuesday. Credit Suisse Group AG restated a “hold” rating on shares of Regions Financial Corp. in a report on Tuesday, July 12th. Finally, Vetr upgraded Regions Financial Corp. from a “buy” rating to a “strong-buy” rating and set a $10.50 price target on the stock in a report on Monday, June 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.34.
Regions Financial Corp. (NYSE:RF) traded down 1.06% during mid-day trading on Tuesday, reaching $10.26. The company had a trading volume of 15,238,027 shares. Regions Financial Corp. has a one year low of $7.00 and a one year high of $10.47. The firm has a market capitalization of $12.88 billion, a P/E ratio of 12.91 and a beta of 1.44. The firm’s 50-day moving average is $9.84 and its 200-day moving average is $9.22.
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Regions Financial Corp. (NYSE:RF) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The firm had revenue of $1.40 billion for 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%. On average, equities research analysts anticipate that Regions Financial Corp. will post $0.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were given a dividend of $0.065 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.51%. Regions Financial Corp.’s dividend payout ratio is presently 32.91%.
In other news, EVP C. Keith Herron sold 38,753 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $9.38, for a total transaction of $363,503.14. Following the transaction, the executive vice president now owns 290,384 shares of the company’s stock, valued at approximately $2,723,801.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $9.73, for a total value of $227,594.43. Following the transaction, 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. Insiders own 0.88% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Regions Financial Corp. by 1.0% in the second quarter. Vanguard Group Inc. now owns 127,898,103 shares of the company’s stock worth $1,088,413,000 after buying an additional 1,317,327 shares in the last quarter. FMR LLC boosted its position in shares of Regions Financial Corp. by 3.0% in the second quarter. FMR LLC now owns 113,805,979 shares of the company’s stock worth $968,488,000 after buying an additional 3,323,092 shares in the last quarter. State Street Corp boosted its position in shares of Regions Financial Corp. by 1.9% in the second quarter. State Street Corp now owns 66,867,165 shares of the company’s stock worth $569,040,000 after buying an additional 1,241,187 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Regions Financial Corp. by 5.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,010,738 shares of the company’s stock worth $282,684,000 after buying an additional 1,878,532 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Regions Financial Corp. by 2.7% in the second quarter. LSV Asset Management now owns 33,211,384 shares of the company’s stock worth $282,628,000 after buying an additional 865,037 shares in the last quarter. 74.29% of the stock is currently owned by hedge funds and other institutional investors.
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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