Regions Financial Corp (NYSE:RF) has received an average recommendation of “Hold” from the twenty-six ratings firms that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, seventeen have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.00.
Several equities research analysts recently issued reports on RF shares. Goldman Sachs Group Inc decreased their price target on shares of Regions Financial Corp to $17.00 and set a “buy” rating on the stock in a report on Thursday, March 30th. FBR & Co raised shares of Regions Financial Corp from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 31st. Wedbush reissued an “outperform” rating and set a $16.00 target price on shares of Regions Financial Corp in a report on Tuesday, March 7th. Argus lowered shares of Regions Financial Corp from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Monday, May 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $16.00 target price on shares of Regions Financial Corp in a report on Wednesday, April 5th.
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Shares of Regions Financial Corp (NYSE:RF) traded up 0.57% during trading on Tuesday, hitting $14.09. 13,766,436 shares of the stock were exchanged. The firm has a 50 day moving average price of $14.09 and a 200 day moving average price of $14.13. Regions Financial Corp has a 52 week low of $7.80 and a 52 week high of $16.03. The firm has a market capitalization of $16.94 billion, a P/E ratio of 15.48 and a beta of 1.37.
Regions Financial Corp (NYSE:RF) last announced its quarterly earnings results on Tuesday, April 18th. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Regions Financial Corp had a net margin of 19.49% and a return on equity of 7.09%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. Analysts forecast that Regions Financial Corp will post $0.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be paid a $0.07 dividend. This is a positive change from Regions Financial Corp’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.28 annualized dividend and a dividend yield of 2.00%. Regions Financial Corp’s dividend payout ratio is presently 29.89%.
In related news, EVP C. Keith Herron sold 30,000 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $14.30, for a total transaction of $429,000.00. Following the completion of the transaction, the executive vice president now owns 204,537 shares in the company, valued at $2,924,879.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David J. Turner, Jr. sold 45,535 shares of the stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $13.82, for a total transaction of $629,293.70. Following the transaction, the chief financial officer now owns 126,160 shares of the company’s stock, valued at approximately $1,743,531.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 396,176 shares of company stock valued at $5,418,986. Company insiders own 0.88% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Regions Financial Corp by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after buying an additional 89,604,919 shares during the period. Norges Bank acquired a new stake in Regions Financial Corp during the fourth quarter valued at approximately $136,750,000. Janus Capital Management LLC increased its stake in Regions Financial Corp by 733.1% in the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock valued at $146,296,000 after buying an additional 8,859,912 shares during the period. Appaloosa LP acquired a new stake in Regions Financial Corp during the fourth quarter valued at approximately $105,404,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Regions Financial Corp during the third quarter valued at approximately $54,184,000. Institutional investors own 74.09% of the company’s stock.
About Regions Financial Corp
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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