Regions Financial Corp (NYSE:RF) Given Average Recommendation of “Buy” by Analysts
Regions Financial Corp (NYSE:RF) has been given a consensus recommendation of “Buy” by the nineteen brokerages that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.17.
A number of brokerages have weighed in on RF. Wells Fargo & Company lifted their price target on shares of Regions Financial from $12.00 to $15.00 in a research report on Friday, June 5th. ValuEngine raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Raymond James reduced their price target on shares of Regions Financial from $15.00 to $14.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 20th. SunTrust Banks dropped their price objective on shares of Regions Financial from $15.00 to $12.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Bank of America reduced their target price on shares of Regions Financial from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, July 10th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BancorpSouth Bank increased its holdings in shares of Regions Financial by 1.9% in the second quarter. BancorpSouth Bank now owns 51,553 shares of the bank’s stock valued at $574,000 after purchasing an additional 951 shares during the period. Advisors Asset Management Inc. lifted its position in Regions Financial by 1.5% in the second quarter. Advisors Asset Management Inc. now owns 66,732 shares of the bank’s stock valued at $742,000 after purchasing an additional 961 shares during the period. Callahan Advisors LLC increased its position in Regions Financial by 3.3% during the 2nd quarter. Callahan Advisors LLC now owns 31,450 shares of the bank’s stock worth $350,000 after purchasing an additional 1,000 shares during the period. First Mercantile Trust Co. boosted its stake in shares of Regions Financial by 7.4% in the second quarter. First Mercantile Trust Co. now owns 16,149 shares of the bank’s stock valued at $179,000 after buying an additional 1,106 shares in the last quarter. Finally, IFG Advisory LLC increased its holdings in shares of Regions Financial by 3.8% in the 2nd quarter. IFG Advisory LLC now owns 31,864 shares of the bank’s stock valued at $354,000 after purchasing an additional 1,174 shares in the last quarter. 73.35% of the stock is owned by hedge funds and other institutional investors.
Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 17th. The bank reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.32). Regions Financial had a return on equity of 5.10% and a net margin of 11.32%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the business earned $0.37 EPS. On average, research analysts expect that Regions Financial will post 0.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a $0.155 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $0.62 annualized dividend and a yield of 5.13%. Regions Financial’s dividend payout ratio is currently 40.00%.
Regions Financial Company Profile
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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