Regions Financial Corporation (RF) Earns Hold Rating from Keefe, Bruyette & Woods
Regions Financial Corporation (NYSE:RF)‘s stock had its “hold” rating restated by research analysts at Keefe, Bruyette & Woods in a report issued on Wednesday. They currently have a $15.50 target price on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 7.04% from the company’s previous close.
A number of other research analysts have also recently commented on RF. UBS AG reiterated a “sell” rating and issued a $13.00 price objective (down from $14.00) on shares of Regions Financial Corporation in a report on Saturday, April 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 price objective on shares of Regions Financial Corporation in a report on Friday, August 11th. BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Wells Fargo & Company assumed coverage on Regions Financial Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $16.00 price target on the stock. Finally, Vining Sparks upgraded Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Regions Financial Corporation has an average rating of “Hold” and an average target price of $14.24.
Shares of Regions Financial Corporation (NYSE:RF) traded down 1.10% during midday trading on Wednesday, hitting $14.32. The company had a trading volume of 8,612,012 shares. The company has a market capitalization of $17.11 billion, a PE ratio of 14.96 and a beta of 1.31. The company has a 50-day moving average of $14.58 and a 200-day moving average of $14.47. Regions Financial Corporation has a 12 month low of $9.37 and a 12 month high of $16.03.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm posted $0.20 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts predict that Regions Financial Corporation will post $1.00 earnings per share for the current year.
Regions Financial Corporation declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to buyback $1.47 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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In other Regions Financial Corporation news, CFO David J. Turner, Jr. sold 65,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the transaction, the chief financial officer now owns 121,160 shares of the company’s stock, valued at $1,811,342. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fournier J. Gale III sold 35,825 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total value of $522,686.75. Following the transaction, the executive vice president now directly owns 109,318 shares in the company, valued at approximately $1,594,949.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,514 shares of company stock worth $1,846,733. Corporate insiders own 0.52% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in Regions Financial Corporation by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock worth $1,343,545,000 after buying an additional 89,604,919 shares in the last quarter. Boston Partners raised its position in Regions Financial Corporation by 506.1% in the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock worth $475,815,000 after buying an additional 27,138,273 shares in the last quarter. Janus Henderson Group PLC raised its position in Regions Financial Corporation by 8,065.3% in the second quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock worth $191,306,000 after buying an additional 12,907,276 shares in the last quarter. Janus Capital Management LLC raised its position in Regions Financial Corporation by 733.1% in the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock worth $146,296,000 after buying an additional 8,859,912 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Regions Financial Corporation by 250.9% in the first quarter. First Trust Advisors LP now owns 6,968,932 shares of the bank’s stock worth $101,259,000 after buying an additional 4,982,921 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors.
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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