Regions Financial Corporation (NYSE:RF) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, July 25th.
Several other analysts also recently weighed in on RF. UBS AG restated a “sell” rating and set a $13.00 price objective (down previously from $14.00) on shares of Regions Financial Corporation in a research report on Saturday, April 22nd. Instinet restated a “neutral” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “hold” rating and set a $15.00 price objective on shares of Regions Financial Corporation in a research report on Thursday, May 18th. FBR & Co set a $18.00 target price on shares of Regions Financial Corporation and gave the company a “buy” rating in a report on Wednesday, April 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $14.13.
Shares of Regions Financial Corporation (NYSE RF) traded up 0.27% on Tuesday, reaching $14.94. 32,547,272 shares of the company’s stock were exchanged. Regions Financial Corporation has a one year low of $8.88 and a one year high of $16.03. The firm has a market capitalization of $17.91 billion, a P/E ratio of 15.61 and a beta of 1.31. The firm has a 50 day moving average of $14.44 and a 200 day moving average of $14.44.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data 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 business 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 earned $0.20 EPS. On average, equities research analysts predict that Regions Financial Corporation will post $1.00 EPS for the current year.
Regions Financial Corporation declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Scott M. Peters sold 13,689 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total transaction of $199,996.29. Following the transaction, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at approximately $2,155,384.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fournier J. Gale III sold 35,825 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction of $522,686.75. Following the transaction, the executive vice president now directly owns 109,318 shares in the company, valued at $1,594,949.62. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Regions Financial Corporation by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after buying an additional 89,604,919 shares in the last quarter. Boston Partners raised its stake in Regions Financial Corporation by 506.1% in the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock valued at $475,815,000 after buying an additional 27,138,273 shares in the last quarter. Janus Capital Management LLC raised its stake in Regions Financial Corporation by 733.1% in the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock valued at $146,296,000 after buying an additional 8,859,912 shares in the last quarter. First Trust Advisors LP raised its stake in Regions Financial Corporation by 250.9% in the first quarter. First Trust Advisors LP now owns 6,968,932 shares of the bank’s stock valued at $101,259,000 after buying an additional 4,982,921 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Regions Financial Corporation during the first quarter valued at approximately $56,133,000. Institutional investors and hedge funds own 75.46% of the company’s stock.
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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