Regions Financial Corporation to Post FY2017 Earnings of $1.00 Per Share, FBR & Co Forecasts (RF)
Regions Financial Corporation (NYSE:RF) – Stock analysts at FBR & Co boosted their FY2017 EPS estimates for shares of Regions Financial Corporation in a note issued to investors on Tuesday. FBR & Co analyst S. Moss now expects that the bank will earn $1.00 per share for the year, up from their prior forecast of $0.99. FBR & Co currently has a “Neutral” rating and a $16.00 target price on the stock. FBR & Co also issued estimates for Regions Financial Corporation’s Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.31 EPS and Q4 2018 earnings at $0.31 EPS.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. Regions Financial Corporation’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. ILLEGAL ACTIVITY NOTICE: This story was first posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/10/12/regions-financial-corporation-to-post-fy2017-earnings-of-1-00-per-share-fbr-co-forecasts-rf.html.
A number of other brokerages have also recently issued reports on RF. Robert W. Baird cut shares of Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a research note on Monday, October 2nd. Citigroup Inc. reissued a “neutral” rating and issued a $16.00 price objective (up from $15.00) on shares of Regions Financial Corporation in a research note on Monday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.00 price objective on shares of Regions Financial Corporation in a research note on Tuesday, October 3rd. Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Finally, BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Regions Financial Corporation has a consensus rating of “Hold” and an average target price of $14.95.
Regions Financial Corporation (RF) opened at 15.04 on Thursday. The stock has a 50 day moving average price of $14.38 and a 200 day moving average price of $14.29. The firm has a market capitalization of $17.97 billion, a P/E ratio of 15.72 and a beta of 1.34. Regions Financial Corporation has a one year low of $9.78 and a one year high of $16.03.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, September 7th. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is 37.89%.
Regions Financial Corporation declared that its board has initiated a stock repurchase 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 usually an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP Fournier J. Gale III sold 35,825 shares of Regions Financial Corporation stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the transaction, the executive vice president now owns 109,318 shares in the company, valued at $1,594,949.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan W. Matlock sold 10,000 shares of Regions Financial Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $15.23, for a total transaction of $152,300.00. Following the transaction, the director now owns 32,188 shares in the company, valued at approximately $490,223.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,514 shares of company stock worth $1,846,733. 0.52% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in RF. AXA acquired a new position in Regions Financial Corporation in the first quarter valued at $1,045,000. OppenheimerFunds Inc. lifted its holdings in Regions Financial Corporation by 18.5% in the first quarter. OppenheimerFunds Inc. now owns 57,510 shares of the bank’s stock valued at $836,000 after buying an additional 8,970 shares during the period. Wellington Management Group LLP lifted its holdings in Regions Financial Corporation by 667.7% in the first quarter. Wellington Management Group LLP now owns 896,549 shares of the bank’s stock valued at $13,028,000 after buying an additional 779,760 shares during the period. Teachers Advisors LLC lifted its holdings in Regions Financial Corporation by 11.6% in the first quarter. Teachers Advisors LLC now owns 6,545,258 shares of the bank’s stock valued at $95,103,000 after buying an additional 681,822 shares during the period. Finally, Stephens Inc. AR lifted its holdings in Regions Financial Corporation by 11.8% in the first quarter. Stephens Inc. AR now owns 140,549 shares of the bank’s stock valued at $2,042,000 after buying an additional 14,877 shares during the period. Institutional investors and hedge funds own 75.53% of the company’s stock.
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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