Regions Financial (NYSE:RF) Now Covered by Wolfe Research
Analysts at Wolfe Research initiated coverage on shares of Regions Financial (NYSE:RF) in a research note issued on Friday, The Fly reports. The brokerage set an “outperform” rating on the bank’s stock.
A number of other equities analysts have also recently weighed in on the company. Royal Bank of Canada restated a “buy” rating and issued a $13.00 price target on shares of Regions Financial in a report on Monday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $11.00 target price on shares of Regions Financial in a report on Thursday, May 21st. Nomura Securities lowered their target price on Regions Financial from $17.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Compass Point lowered their target price on Regions Financial from $11.00 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, ValuEngine raised Regions Financial from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $13.34.
RF opened at $10.86 on Friday. The firm has a 50 day moving average price of $11.02 and a 200 day moving average price of $11.92. The company has a market cap of $10.42 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 3.49 and a beta of 1.69. Regions Financial has a 1 year low of $6.94 and a 1 year high of $17.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 0.88.
In other Regions Financial news, Director Jose S. Suquet bought 5,000 shares of the stock in a transaction on Friday, May 8th. The shares were acquired at an average price of $10.21 per share, with a total value of $51,050.00. Following the acquisition, the director now directly owns 41,527 shares of the company’s stock, valued at approximately $423,990.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jose S. Suquet bought 10,000 shares of the stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $9.88 per share, for a total transaction of $98,800.00. Following the acquisition, the director now directly owns 41,527 shares in the company, valued at $410,286.76. The disclosure for this purchase can be found here. 0.47% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Capital World Investors purchased a new position in shares of Regions Financial during the 1st quarter worth $288,941,000. JPMorgan Chase & Co. increased its stake in Regions Financial by 309.9% during the 1st quarter. JPMorgan Chase & Co. now owns 19,757,041 shares of the bank’s stock valued at $177,221,000 after purchasing an additional 14,936,752 shares in the last quarter. Norges Bank acquired a new position in Regions Financial during the 4th quarter valued at approximately $183,638,000. Wellington Management Group LLP increased its stake in shares of Regions Financial by 4,630.9% in the first quarter. Wellington Management Group LLP now owns 6,559,059 shares of the bank’s stock worth $58,835,000 after acquiring an additional 6,420,417 shares during the period. Finally, Prudential PLC increased its stake in shares of Regions Financial by 16,496.9% in the first quarter. Prudential PLC now owns 5,663,522 shares of the bank’s stock worth $50,802,000 after acquiring an additional 5,629,398 shares during the period. 73.03% of the stock is currently owned by institutional investors and hedge funds.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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