Regions Financial Corporation (NYSE:RF) - Stock analysts at FBR & Co dropped their Q3 2018 earnings per share (EPS) estimates for Regions Financial Corporation in a research report issued on Monday. FBR & Co analyst S. Moss now expects that the bank will post earnings of $0.32 per share for the quarter, down from their previous estimate of $0.34. FBR & Co currently has a “Buy” rating and a $18.00 target price on the stock.
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 company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. TRADEMARK VIOLATION WARNING: This news story was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://stocknewstimes.com/2017/07/27/regions-financial-corporation-to-post-q3-2018-earnings-of-0-32-per-share-fbr-co-forecasts-rf.html.
RF has been the topic of several other research reports. Bank of America Corporation raised shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.00 to $17.00 in a research note on Thursday, May 4th. Argus downgraded shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research note on Monday, May 1st. Rafferty Capital Markets downgraded shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research note on Thursday, April 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a research note on Friday, May 5th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial Corporation has an average rating of “Hold” and a consensus price target of $14.13.
Shares of Regions Financial Corporation (NYSE RF) traded down 0.727% during trading on Wednesday, reaching $14.345. 12,547,686 shares of the company were exchanged. Regions Financial Corporation has a 1-year low of $8.82 and a 1-year high of $16.03. The stock’s 50 day moving average is $14.39 and its 200 day moving average is $14.44. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of 14.990 and a beta of 1.32.
Regions Financial Corporation announced that its board has authorized a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, EVP C. Keith Herron sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $14.30, for a total value of $429,000.00. Following the sale, the executive vice president now directly owns 204,537 shares in the company, valued at approximately $2,924,879.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. IBM Retirement Fund boosted its stake in Regions Financial Corporation by 108.3% in the second quarter. IBM Retirement Fund now owns 29,406 shares of the bank’s stock worth $481,000 after buying an additional 15,287 shares in the last quarter. NGAM Advisors L.P. boosted its stake in Regions Financial Corporation by 119.3% in the second quarter. NGAM Advisors L.P. now owns 85,823 shares of the bank’s stock worth $1,256,000 after buying an additional 46,688 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Regions Financial Corporation by 18.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,340 shares of the bank’s stock worth $151,000 after buying an additional 1,637 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Regions Financial Corporation during the second quarter worth $909,000. Finally, Park Avenue Securities LLC boosted its stake in Regions Financial Corporation by 1.6% in the second quarter. Park Avenue Securities LLC now owns 10,833 shares of the bank’s stock worth $161,000 after buying an additional 166 shares in the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.
Regions Financial Corporation Company Profile
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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