Regions Financial Corporation (RF) Receives “Hold” Rating from Keefe, Bruyette & Woods
Regions Financial Corporation (NYSE:RF)‘s stock had its “hold” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday. They presently have a $15.50 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 12.73% from the stock’s current price.
A number of other equities analysts also recently weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a report on Friday, August 11th. BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Instinet reissued a “neutral” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a report on Wednesday, July 12th. Vining Sparks raised shares of Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $14.50 price target on shares of Regions Financial Corporation in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.89.
Shares of Regions Financial Corporation (RF) traded up 0.44% during trading on Friday, hitting $13.75. 13,642,196 shares of the stock traded hands. Regions Financial Corporation has a 1-year low of $9.45 and a 1-year high of $16.03. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 14.37 and a beta of 1.33. The stock has a 50 day moving average price of $14.20 and a 200-day moving average price of $14.31.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.20 EPS. Equities analysts forecast that Regions Financial Corporation will post $1.00 EPS for the current year.
Regions Financial Corporation announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
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In other news, Director Susan W. Matlock sold 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $15.23, for a total transaction of $152,300.00. Following the sale, the director now directly owns 32,188 shares in the company, valued at $490,223.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the sale, the chief financial officer now owns 121,160 shares in the company, valued at $1,811,342. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,514 shares of company stock worth $1,846,733. Company insiders own 0.52% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in RF. BlackRock Inc. increased its position in shares of Regions Financial Corporation by 3,130.8% during the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after buying an additional 89,604,919 shares during the period. Boston Partners grew its holdings in shares of Regions Financial Corporation by 506.1% during the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock worth $475,815,000 after purchasing an additional 27,138,273 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Regions Financial Corporation by 8,065.3% during the second quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock worth $191,306,000 after purchasing an additional 12,907,276 shares in the last quarter. Janus Capital Management LLC grew its holdings in shares of Regions Financial Corporation by 733.1% during the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock worth $146,296,000 after purchasing an additional 8,859,912 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Regions Financial Corporation during the first quarter worth about $56,133,000. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Regions Financial Corporation 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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