Shares of Regions Financial Corporation (NYSE:RF) have been assigned a consensus recommendation of “Hold” from the twenty-five brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $14.33.
Several brokerages recently weighed in on RF. Instinet reaffirmed a “neutral” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a report on Wednesday, July 12th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 target price on shares of Regions Financial Corporation in a report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 target price on shares of Regions Financial Corporation and gave the stock a “hold” rating in a report on Tuesday, June 20th. Finally, BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th.
In related news, CFO David J. Turner, Jr. sold 45,535 shares of the stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $13.82, for a total value of $629,293.70. Following the sale, the chief financial officer now directly owns 126,160 shares of the company’s stock, valued at approximately $1,743,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William D. Ritter sold 39,258 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $13.82, for a total transaction of $542,545.56. Following the completion of the sale, the executive vice president now directly owns 195,423 shares in the company, valued at $2,700,745.86. The disclosure for this sale can be found here. Insiders sold a total of 144,793 shares of company stock worth $2,019,039 over the last three months. 0.52% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of RF. JPMorgan Chase & Co. raised its stake in Regions Financial Corporation by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock worth $395,848,000 after buying an additional 2,985,752 shares during the period. Toronto Dominion Bank raised its stake in Regions Financial Corporation by 53.9% in the first quarter. Toronto Dominion Bank now owns 326,968 shares of the bank’s stock worth $4,750,000 after buying an additional 114,483 shares during the period. Trexquant Investment LP raised its stake in Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock worth $2,345,000 after buying an additional 33,700 shares during the period. Macquarie Group Ltd. raised its stake in Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock worth $638,000 after buying an additional 14,525 shares during the period. Finally, Elkfork Partners LLC raised its stake in Regions Financial Corporation by 96.9% in the first quarter. Elkfork Partners LLC now owns 809,160 shares of the bank’s stock worth $11,757,000 after buying an additional 398,112 shares during the period. 75.47% of the stock is currently owned by institutional investors.
Shares of Regions Financial Corporation (NYSE RF) traded down 0.56% during trading on Wednesday, reaching $14.23. The company’s stock had a trading volume of 19,775,337 shares. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 15.64 and a beta of 1.32. The firm’s 50-day moving average price is $14.30 and its 200-day moving average price is $14.44. Regions Financial Corporation has a one year low of $8.82 and a one year high of $16.03.
Regions Financial Corporation (NYSE:RF) last issued its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company 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 19.94% and a return on equity of 7.27%. Regions Financial Corporation’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS. On average, equities analysts anticipate that Regions Financial Corporation will post $0.99 earnings per share for the current year.
Regions Financial Corporation announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization permits the bank to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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