Citigroup Inc. restated their neutral rating on shares of Regions Financial Corporation (NYSE:RF) in a report published on Monday. They currently have a $16.00 price target on the bank’s stock, up from their previous price target of $15.00.
RF has been the topic of a number of other research reports. Instinet lifted their price objective on shares of Regions Financial Corporation from $15.00 to $16.00 and gave the company a neutral rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods reiterated a hold rating and set a $15.50 price objective on shares of Regions Financial Corporation in a research note on Wednesday, August 16th. Wells Fargo & Company began coverage on shares of Regions Financial Corporation in a research note on Wednesday, August 9th. They set a market perform rating and a $16.00 price objective on the stock. Deutsche Bank AG reiterated a hold rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Finally, BidaskClub lowered shares of Regions Financial Corporation from a hold rating to a sell rating in a research note on Monday, August 14th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Regions Financial Corporation has a consensus rating of Hold and a consensus target price of $14.95.
Regions Financial Corporation (NYSE RF) opened at 15.04 on Monday. Regions Financial Corporation has a 12-month low of $9.78 and a 12-month high of $16.03. The firm has a market cap of $17.97 billion, a PE ratio of 15.72 and a beta of 1.34. The firm’s 50-day moving average is $14.38 and its 200 day moving average is $14.29.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. Equities research analysts predict that Regions Financial Corporation will post $1.00 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Thursday, September 7th. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is currently 37.89%.
Regions Financial Corporation declared that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $1.47 billion in shares. This repurchase authorization allows the bank to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Regions Financial Corporation news, EVP Fournier J. Gale III sold 35,825 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total value of $522,686.75. Following the sale, the executive vice president now directly owns 109,318 shares in the company, valued at $1,594,949.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan W. Matlock sold 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $15.23, for a total value of $152,300.00. Following the completion of the sale, the director now owns 32,188 shares in the company, valued at $490,223.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. FNY Partners Fund LP bought a new stake in Regions Financial Corporation in the first quarter valued at $103,000. Lloyds Banking Group plc bought a new stake in Regions Financial Corporation in the second quarter valued at $108,000. Seven Eight Capital LP bought a new stake in Regions Financial Corporation in the second quarter valued at $111,000. Sun Life Financial INC lifted its stake in Regions Financial Corporation by 98,133.3% in the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after buying an additional 8,832 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its stake in Regions Financial Corporation by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after buying an additional 26 shares during the last quarter. Institutional investors 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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