Regions Financial Corp (RF) Sees Significant Decrease in Short Interest
Regions Financial Corp (NYSE:RF) saw a large decrease in short interest in December. As of December 29th, there was short interest totalling 18,232,903 shares, a decrease of 22.7% from the December 15th total of 23,574,498 shares. Based on an average trading volume of 7,085,157 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.6% of the shares of the company are short sold.
Shares of Regions Financial (NYSE:RF) opened at $18.16 on Wednesday. The stock has a market capitalization of $21,070.00, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.06 and a beta of 1.30. Regions Financial has a 52-week low of $13.00 and a 52-week high of $18.43. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.85 and a quick ratio of 0.84.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. Regions Financial’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. analysts anticipate that Regions Financial will post 0.99 EPS for the current year.
Several research firms have weighed in on RF. ValuEngine downgraded Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray Companies restated a “hold” rating and issued a $17.00 price target on shares of Regions Financial in a research note on Tuesday, January 9th. Robert W. Baird restated a “sell” rating and issued a $17.00 price target on shares of Regions Financial in a research note on Wednesday, January 3rd. Barclays upped their price target on Regions Financial from $15.00 to $19.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Finally, Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Thursday, December 21st. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.65.
In other Regions Financial news, EVP Scott M. Peters sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total value of $396,000.00. Following the completion of the transaction, the executive vice president now directly owns 121,459 shares in the company, valued at approximately $1,923,910.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $255,600.00. Following the completion of the transaction, the director now owns 59,436 shares of the company’s stock, valued at $1,012,789.44. The disclosure for this sale can be found here. Insiders sold a total of 80,000 shares of company stock valued at $1,278,400 over the last three months. 0.52% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of RF. Seven Eight Capital LP bought a new stake in Regions Financial in the second quarter worth $111,000. Sun Life Financial INC lifted its position in Regions Financial by 98,133.3% in the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after buying an additional 8,832 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in Regions Financial by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after buying an additional 26 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Regions Financial in the third quarter worth $150,000. Finally, Pax World Management LLC bought a new stake in Regions Financial in the third quarter worth $154,000. Institutional investors own 75.27% of the company’s stock.
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Regions Financial 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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