Research Analysts Issue Forecasts for Regions Financial Corporation’s FY2018 Earnings (NYSE:RF)
Regions Financial Corporation (NYSE:RF) – Equities researchers at Wedbush reduced their FY2018 earnings per share (EPS) estimates for shares of Regions Financial Corporation in a note issued to investors on Sunday. Wedbush analyst P. Winter now forecasts that the bank will post earnings of $1.09 per share for the year, down from their previous estimate of $1.11. Wedbush currently has a “Neutral” rating and a $15.00 price target on the stock.
Other analysts have also issued reports about the company. FBR & Co set a $18.00 price objective on Regions Financial Corporation and gave the company a “buy” rating in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) lowered their price objective on Regions Financial Corporation to $17.00 and set a “buy” rating for the company in a report on Thursday, March 30th. Bank of America Corporation raised Regions Financial Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $17.00 in a report on Thursday, May 4th. Argus lowered Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a report on Monday, May 1st. Finally, Rafferty Capital Markets lowered Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $14.18.
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Shares of Regions Financial Corporation (NYSE:RF) traded down 0.14% during mid-day trading on Tuesday, hitting $14.73. The company had a trading volume of 7,213,551 shares. Regions Financial Corporation has a 52-week low of $8.37 and a 52-week high of $16.03. The stock’s 50-day moving average is $14.10 and its 200-day moving average is $14.41. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 16.19 and a beta of 1.32.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Tuesday, April 18th. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Regions Financial Corporation had a return on equity of 7.27% and a net margin of 19.94%. The business’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS.
A number of large investors have recently made changes to their positions in the company. Federated Investors Inc. PA boosted its stake in shares of Regions Financial Corporation by 31.3% in the fourth quarter. Federated Investors Inc. PA now owns 44,980 shares of the bank’s stock valued at $646,000 after buying an additional 10,710 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Regions Financial Corporation by 5.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 43,057 shares of the bank’s stock valued at $618,000 after buying an additional 2,130 shares during the last quarter. Elkhorn Investments LLC purchased a new stake in shares of Regions Financial Corporation during the fourth quarter valued at approximately $925,000. Wealthfront Inc. boosted its stake in shares of Regions Financial Corporation by 15.9% in the fourth quarter. Wealthfront Inc. now owns 29,749 shares of the bank’s stock valued at $427,000 after buying an additional 4,073 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Regions Financial Corporation by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 5,863,436 shares of the bank’s stock valued at $84,199,000 after buying an additional 544,570 shares during the last quarter. 76.40% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Chairman Grayson Hall sold 202,231 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $13.51, for a total transaction of $2,732,140.81. Following the sale, the chairman now owns 494,874 shares of the company’s stock, valued at $6,685,747.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Hardie B. Kimbrough, Jr. sold 34,654 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $13.56, for a total value of $469,908.24. Following the sale, the insider now directly owns 57,305 shares in the company, valued at approximately $777,055.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 396,176 shares of company stock worth $5,418,986. 0.52% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 9th were issued a dividend of $0.07 per share. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date was Wednesday, June 7th. This represents a $0.28 annualized dividend and a yield of 1.90%. Regions Financial Corporation’s payout ratio is presently 31.11%.
About Regions Financial Corporation
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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