Piper Jaffray Companies reissued their hold rating on shares of Regions Financial Corporation (NYSE:RF) in a research report released on Tuesday. Piper Jaffray Companies currently has a $14.50 price target on the bank’s stock.
RF has been the subject of a number of other research reports. Keefe, Bruyette & Woods reissued a hold rating and set a $15.50 target price on shares of Regions Financial Corporation in a research report on Friday, September 15th. Deutsche Bank AG reissued a hold rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Bank of America Corporation reissued a buy rating and set a $17.00 target price on shares of Regions Financial Corporation in a research report on Wednesday, July 26th. BidaskClub lowered shares of Regions Financial Corporation from a hold rating to a sell rating in a research report on Tuesday, July 25th. Finally, Wells Fargo & Company initiated coverage on shares of Regions Financial Corporation in a research report on Wednesday, August 9th. They set a market perform rating and a $16.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $14.89.
Shares of Regions Financial Corporation (RF) opened at 14.43 on Tuesday. The stock’s 50 day moving average price is $14.18 and its 200-day moving average price is $14.27. The stock has a market capitalization of $17.25 billion, a price-to-earnings ratio of 15.08 and a beta of 1.33. Regions Financial Corporation has a 12 month low of $9.45 and a 12 month high of $16.03.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. Equities analysts forecast that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.09 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.52%. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is presently 37.89%.
Regions Financial Corporation announced that its board has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Susan W. Matlock sold 10,000 shares of the company’s 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 sale, the director now owns 32,188 shares of the company’s stock, valued at $490,223.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fournier J. Gale III sold 35,825 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the sale, the executive vice president now directly owns 109,318 shares in the company, valued at approximately $1,594,949.62. The disclosure for this sale can be found here. In the last three months, insiders sold 124,514 shares of company stock worth $1,846,733. 0.52% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of RF. UBS Asset Management Americas Inc. increased its stake in Regions Financial Corporation by 8.0% in the first quarter. UBS Asset Management Americas Inc. now owns 4,058,192 shares of the bank’s stock valued at $58,966,000 after acquiring an additional 301,589 shares during the period. Sei Investments Co. increased its stake in Regions Financial Corporation by 52.3% in the first quarter. Sei Investments Co. now owns 267,006 shares of the bank’s stock valued at $3,880,000 after acquiring an additional 91,676 shares during the period. State of Tennessee Treasury Department increased its stake in Regions Financial Corporation by 25.3% in the first quarter. State of Tennessee Treasury Department now owns 776,404 shares of the bank’s stock valued at $11,281,000 after acquiring an additional 156,607 shares during the period. Mutual of America Capital Management LLC increased its stake in Regions Financial Corporation by 2.8% in the first quarter. Mutual of America Capital Management LLC now owns 148,359 shares of the bank’s stock valued at $2,156,000 after acquiring an additional 4,054 shares during the period. Finally, Stevens Capital Management LP bought a new stake in Regions Financial Corporation in the first quarter valued at about $2,871,000. 75.56% of the stock is currently owned by institutional investors and hedge funds.
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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