Regions Financial Corporation (RF) Price Target Increased to $16.00 by Analysts at J P Morgan Chase & Co
Regions Financial Corporation (NYSE:RF) had its price objective hoisted by stock analysts at J P Morgan Chase & Co from $15.50 to $16.00 in a research note issued to investors on Wednesday. The brokerage presently has a “neutral” rating on the bank’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 3.36% from the stock’s current price.
Several other analysts have also recently commented on RF. Jefferies Group LLC restated a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a research report on Friday, August 11th. Piper Jaffray Companies restated a “hold” rating and issued a $14.50 target price on shares of Regions Financial Corporation in a research report on Thursday, August 17th. Royal Bank Of Canada restated a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a research report on Wednesday, October 25th. Wells Fargo & Company assumed coverage on Regions Financial Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $16.00 target price on the stock. Finally, BidaskClub cut Regions Financial Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Regions Financial Corporation currently has an average rating of “Hold” and an average price target of $15.14.
Regions Financial Corporation (NYSE:RF) traded up 1.518% during mid-day trading on Wednesday, hitting $15.715. The company had a trading volume of 1,640,189 shares. The firm has a market cap of $18.78 billion, a P/E ratio of 16.421 and a beta of 1.34. The stock’s 50 day moving average price is $14.87 and its 200 day moving average price is $14.38. Regions Financial Corporation has a 52-week low of $10.32 and a 52-week high of $16.03.
Regions Financial Corporation (NYSE:RF) last posted its earnings results on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Regions Financial Corporation had a return on equity of 7.56% and a net margin of 20.14%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $0.24 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that Regions Financial Corporation will post $0.99 EPS for the current fiscal year.
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In related news, CFO David J. Turner, Jr. sold 65,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the sale, the chief financial officer now directly owns 121,160 shares in the company, valued at $1,811,342. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $15.23, for a total value of $152,300.00. Following 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. In the last ninety days, insiders sold 100,000 shares of company stock valued at $1,520,050. 0.52% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Sowell Financial Services LLC purchased a new stake in shares of Regions Financial Corporation during the fourth quarter worth $109,000. FNY Partners Fund LP purchased a new stake in shares of Regions Financial Corporation during the first quarter worth $103,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Regions Financial Corporation by 10.2% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock worth $104,000 after acquiring an additional 666 shares in the last quarter. Lloyds Banking Group plc purchased a new stake in shares of Regions Financial Corporation during the second quarter worth $108,000. Finally, WFG Advisors LP raised its holdings in shares of Regions Financial Corporation by 131.1% during the fourth quarter. WFG Advisors LP now owns 7,544 shares of the bank’s stock worth $521,000 after acquiring an additional 4,279 shares in the last quarter. Institutional investors and hedge funds own 75.71% 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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