Royal Bank of Canada Reiterates “Hold” Rating for Regions Financial (RF)

Regions Financial (NYSE:RF)‘s stock had its “hold” rating reiterated by research analysts at Royal Bank of Canada in a research note issued to investors on Sunday. They currently have a $18.00 price target on the bank’s stock. Royal Bank of Canada’s price target would indicate a potential downside of 3.59% from the company’s previous close.

RF has been the subject of several other reports. FBR & Co reissued a “hold” rating and issued a $16.00 price objective on shares of Regions Financial in a research note on Wednesday, October 25th. Barclays upped their target price on Regions Financial from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Robert W. Baird reaffirmed a “sell” rating and issued a $17.00 target price on shares of Regions Financial in a research report on Wednesday, January 3rd. Goldman Sachs Group raised Regions Financial from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, November 16th. Finally, JPMorgan Chase & Co. upped their target price on Regions Financial from $15.50 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.80.

Shares of Regions Financial (NYSE:RF) traded up $0.52 during trading on Friday, reaching $18.67. The company had a trading volume of 15,179,287 shares, compared to its average volume of 6,869,356. The stock has a market cap of $21,656.66, a P/E ratio of 18.67, a P/E/G ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.84 and a current ratio of 0.85. Regions Financial has a 1 year low of $13.00 and a 1 year high of $18.70.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $1.48 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%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. research analysts forecast that Regions Financial will post 1.2 earnings per share for the current year.

In other news, EVP John B. Owen sold 40,000 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total transaction of $626,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $17.04, for a total value of $255,600.00. Following the transaction, the director now directly owns 59,436 shares in the company, valued at approximately $1,012,789.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,000 shares of company stock worth $1,278,400. 0.52% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Koch Industries Inc. acquired a new position in shares of Regions Financial during the 2nd quarter valued at about $614,000. Pinebridge Investments L.P. boosted its stake in Regions Financial by 5.7% during the 3rd quarter. Pinebridge Investments L.P. now owns 758,442 shares of the bank’s stock valued at $11,551,000 after purchasing an additional 40,919 shares during the period. Cipher Capital LP bought a new stake in Regions Financial during the 3rd quarter valued at approximately $1,160,000. Toronto Dominion Bank boosted its stake in Regions Financial by 24.8% during the 2nd quarter. Toronto Dominion Bank now owns 408,156 shares of the bank’s stock valued at $5,974,000 after purchasing an additional 81,188 shares during the period. Finally, Colonial Trust Advisors boosted its stake in Regions Financial by 54.5% during the 2nd quarter. Colonial Trust Advisors now owns 34,184 shares of the bank’s stock valued at $500,000 after purchasing an additional 12,060 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Regions Financial (NYSE:RF)

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