Regions Financial Corporation (RF) Given Hold Rating at Piper Jaffray Companies
Piper Jaffray Companies reissued their hold rating on shares of Regions Financial Corporation (NYSE:RF) in a research note released on Tuesday morning. They currently have a $14.50 target price on the bank’s stock.
A number of other analysts have also commented on RF. BidaskClub raised Regions Financial Corporation from a sell rating to a hold rating in a research note on Friday, June 9th. Vining Sparks raised Regions Financial Corporation from an outperform rating to a strong-buy rating in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $15.50 price objective on shares of Regions Financial Corporation in a research note on Friday, September 15th. Royal Bank Of Canada reaffirmed a hold rating and set a $15.00 price objective on shares of Regions Financial Corporation in a research note on Friday, June 23rd. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $16.00 price objective on shares of Regions Financial Corporation in a research note on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $14.89.
Regions Financial Corporation (RF) opened at 14.15 on Tuesday. Regions Financial Corporation has a 12 month low of $9.45 and a 12 month high of $16.03. The stock’s 50 day moving average is $14.18 and its 200 day moving average is $14.27. The firm has a market cap of $16.91 billion, a PE ratio of 14.79 and a beta of 1.33.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Regions Financial Corporation will post $1.00 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.09 dividend. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s payout ratio is currently 37.89%.
Regions Financial Corporation declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Fournier J. Gale III sold 35,825 shares of Regions Financial Corporation stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total value of $522,686.75. Following the transaction, the executive vice president now directly owns 109,318 shares of the company’s stock, valued at approximately $1,594,949.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan W. Matlock sold 10,000 shares of Regions Financial Corporation stock in a transaction dated 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 transaction, the director now directly owns 32,188 shares in the company, valued at $490,223.24. The disclosure for this sale can be found here. Insiders sold a total of 124,514 shares of company stock worth $1,846,733 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new position in shares of Regions Financial Corporation in the 1st quarter valued at about $103,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Regions Financial Corporation by 10.2% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock valued at $104,000 after buying an additional 666 shares during the period. Lloyds Banking Group plc purchased a new stake in shares of Regions Financial Corporation during the 2nd quarter valued at about $108,000. Seven Eight Capital LP purchased a new stake in shares of Regions Financial Corporation during the 2nd quarter valued at about $111,000. Finally, Sun Life Financial INC raised its holdings in shares of Regions Financial Corporation by 98,133.3% during the 2nd 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 period. 75.56% of the stock is currently owned by institutional investors and hedge funds.
Regions Financial Corporation 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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