Equities Analysts Offer Predictions for Regions Financial Corp’s FY2019 Earnings (RF)
Regions Financial Corp (NYSE:RF) – Research analysts at B. Riley upped their FY2019 EPS estimates for shares of Regions Financial in a note issued to investors on Thursday. B. Riley analyst S. Moss now anticipates that the bank will post earnings of $1.50 per share for the year, up from their prior forecast of $1.24.
Other research analysts have also recently issued research reports about the company. Royal Bank of Canada restated a “hold” rating and set a $16.00 price objective on shares of Regions Financial in a research note on Wednesday, October 25th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $14.50 target price on shares of Regions Financial in a research report on Tuesday, September 19th. SunTrust Banks reaffirmed a “buy” rating and set a $19.00 target price on shares of Regions Financial in a research report on Wednesday, November 29th. UBS Group raised Regions Financial from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $15.00 to $18.00 in a research report on Tuesday, December 12th. Finally, Nomura reaffirmed a “neutral” rating and set a $17.00 target price (up from $16.00) on shares of Regions Financial in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Regions Financial presently has a consensus rating of “Hold” and an average price target of $16.65.
Regions Financial (NYSE:RF) last issued its earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.25. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share.
Large investors have recently bought and sold shares of the company. AXA boosted its position in shares of Regions Financial by 2.2% during the second quarter. AXA now owns 73,498 shares of the bank’s stock worth $1,076,000 after buying an additional 1,600 shares during the period. Martingale Asset Management L P boosted its position in shares of Regions Financial by 1.7% during the second quarter. Martingale Asset Management L P now owns 114,979 shares of the bank’s stock worth $1,684,000 after buying an additional 1,908 shares during the period. Seven Eight Capital LP acquired a new position in shares of Regions Financial during the second quarter worth approximately $111,000. TIAA CREF Investment Management LLC boosted its position in shares of Regions Financial by 20.3% during the second quarter. TIAA CREF Investment Management LLC now owns 3,928,403 shares of the bank’s stock worth $57,512,000 after buying an additional 663,618 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Regions Financial by 4.9% during the second quarter. Ameriprise Financial Inc. now owns 1,172,544 shares of the bank’s stock worth $17,140,000 after buying an additional 54,737 shares during the period. 75.27% of the stock is owned by institutional investors.
In other news, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total transaction of $255,600.00. Following the completion of the transaction, the director now directly owns 59,436 shares of the company’s stock, valued at $1,012,789.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John B. Owen sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total value of $626,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,000 shares of company stock valued at $1,278,400. 0.52% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, December 7th. Regions Financial’s dividend payout ratio is currently 37.89%.
About Regions Financial
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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