Regions Financial Corporation (RF) Receives $15.00 Consensus Price Target from Analysts
Regions Financial Corporation (NYSE:RF) has been given an average rating of “Hold” by the twenty-five analysts that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $14.87.
Several research firms have issued reports on RF. BidaskClub upgraded shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Vining Sparks upgraded shares of Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 26th. Robert W. Baird downgraded shares of Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a research note on Monday. Piper Jaffray Companies restated a “hold” rating and issued a $14.50 price objective on shares of Regions Financial Corporation in a research note on Thursday, August 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.50 price objective on shares of Regions Financial Corporation in a research note on Friday, September 15th.
Shares of Regions Financial Corporation (NYSE RF) traded up 0.99% during trading on Monday, reaching $15.24. The company had a trading volume of 6,721,283 shares. Regions Financial Corporation has a 1-year low of $9.78 and a 1-year high of $16.03. The firm has a 50-day moving average of $14.24 and a 200 day moving average of $14.26. The firm has a market capitalization of $18.21 billion, a PE ratio of 15.92 and a beta of 1.34.
Regions Financial Corporation (NYSE:RF) last issued its earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current year.
Regions Financial Corporation declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $1.47 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a dividend of $0.09 per share. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 2.39%. The ex-dividend date was Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio is currently 37.89%.
In other Regions Financial Corporation news, EVP Fournier J. Gale III sold 35,825 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total value of $522,686.75. Following the completion of the transaction, the executive vice president now directly owns 109,318 shares of the company’s stock, valued at $1,594,949.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO David J. Turner, Jr. sold 65,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the transaction, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at $1,811,342. The disclosure for this sale can be found here. Over 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.
A number of institutional investors have recently modified their holdings of the business. Salem Investment Counselors Inc. increased its holdings 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 in the last quarter. IFC Holdings Incorporated FL increased its holdings in Regions Financial Corporation by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 20,289 shares of the bank’s stock valued at $295,000 after buying an additional 58 shares in the last quarter. Advisor Partners LLC increased its holdings in Regions Financial Corporation by 0.3% in the second quarter. Advisor Partners LLC now owns 20,041 shares of the bank’s stock valued at $293,000 after buying an additional 59 shares in the last quarter. Lbmc Investment Advisors LLC increased its holdings in Regions Financial Corporation by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 31,904 shares of the bank’s stock valued at $467,000 after buying an additional 109 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Regions Financial Corporation by 0.9% in the second quarter. Huntington National Bank now owns 17,347 shares of the bank’s stock valued at $254,000 after buying an additional 161 shares in the last quarter. 75.56% of the stock is owned by institutional investors.
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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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