Regions Financial Corporation (RF) to Post Q3 2017 Earnings of $0.25 Per Share, SunTrust Banks Forecasts
Regions Financial Corporation (NYSE:RF) – Analysts at SunTrust Banks cut their Q3 2017 earnings per share estimates for Regions Financial Corporation in a research note issued on Monday. SunTrust Banks analyst J. Demba now forecasts that the bank will post earnings of $0.25 per share for the quarter, down from their prior estimate of $0.26. SunTrust Banks also issued estimates for Regions Financial Corporation’s FY2017 earnings at $1.00 EPS.
RF has been the subject of a number of other reports. Jefferies Group LLC restated a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a report on Friday, August 11th. Piper Jaffray Companies reiterated a “hold” rating and set a $14.50 price objective on shares of Regions Financial Corporation in a report on Thursday, August 17th. Wells Fargo & Company started coverage on shares of Regions Financial Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $16.00 price objective for the company. BidaskClub cut shares of Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $15.50 price target on shares of Regions Financial Corporation in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Regions Financial Corporation has an average rating of “Hold” and an average price target of $14.63.
Shares of Regions Financial Corporation (RF) opened at 13.74 on Thursday. The company has a market cap of $16.42 billion, a PE ratio of 14.36 and a beta of 1.33. The firm’s 50 day moving average is $14.27 and its 200 day moving average is $14.33. 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 issued its earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.
Several hedge funds have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. bought a new position in Regions Financial Corporation in the first quarter worth about $168,000. Suntrust Banks Inc. increased its holdings in shares of Regions Financial Corporation by 0.3% during the first quarter. Suntrust Banks Inc. now owns 64,520 shares of the bank’s stock valued at $935,000 after acquiring an additional 177 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Regions Financial Corporation by 8.0% during the first quarter. UBS Asset Management Americas Inc. now owns 4,058,192 shares of the bank’s stock valued at $58,966,000 after acquiring an additional 301,589 shares in the last quarter. Lbmc Investment Advisors LLC increased its holdings in shares of Regions Financial Corporation by 0.5% during the first quarter. Lbmc Investment Advisors LLC now owns 31,795 shares of the bank’s stock valued at $462,000 after acquiring an additional 147 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Regions Financial Corporation during the first quarter valued at about $14,098,000. Hedge funds and other institutional investors own 75.61% of the company’s stock.
In related news, EVP Scott M. Peters sold 13,689 shares of Regions Financial Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $14.61, for a total value of $199,996.29. Following the completion of the sale, the executive vice president now directly owns 147,528 shares in the company, valued at $2,155,384.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan W. Matlock sold 10,000 shares of Regions Financial Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $15.23, for a total value of $152,300.00. Following the completion of the sale, the director now owns 32,188 shares of the company’s stock, valued at $490,223.24. The disclosure for this sale can be found here. Insiders have sold 124,514 shares of company stock valued at $1,846,733 over the last three months. Insiders own 0.52% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.09 per share. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, September 7th. Regions Financial Corporation’s payout ratio is currently 37.89%.
Regions Financial Corporation announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization permits the bank to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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