Regions Financial Corporation (NYSE:RF) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Regions Financial Corporation (NYSE:RF) in a research note published on Wednesday, MarketBeat.com reports. The brokerage issued a market perform rating and a $16.00 target price on the bank’s stock.

Several other equities analysts have also recently commented on the stock. Rafferty Capital Markets cut shares of Regions Financial Corporation from a buy rating to a hold rating and set a $15.00 target price on the stock. in a research note on Thursday, April 20th. Bank of America Corporation raised shares of Regions Financial Corporation from a neutral rating to a buy rating and raised their target price for the company from $15.00 to $17.00 in a research note on Thursday, May 4th. Royal Bank Of Canada reissued a hold rating and set a $15.00 target price on shares of Regions Financial Corporation in a research note on Friday, June 23rd. Argus cut shares of Regions Financial Corporation from a buy rating to a hold rating and set a $15.00 target price on the stock. in a research note on Monday, May 1st. Finally, Deutsche Bank AG reissued a hold rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $14.21.

Regions Financial Corporation (NYSE:RF) traded down 1.61% during mid-day trading on Wednesday, reaching $14.07. 18,741,361 shares of the company were exchanged. Regions Financial Corporation has a 12 month low of $9.28 and a 12 month high of $16.03. The company’s 50 day moving average price is $14.54 and its 200-day moving average price is $14.47. The stock has a market capitalization of $16.81 billion, a P/E ratio of 14.70 and a beta of 1.31.

Regions Financial Corporation (NYSE:RF) last released its earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm 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%. Regions Financial Corporation’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. On average, equities analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio is 29.47%.

Regions Financial Corporation announced that its board has initiated a share repurchase program 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 programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $15.23, for a total value of $152,300.00. Following the completion of the sale, the director now directly owns 32,188 shares of the company’s stock, valued at $490,223.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott M. Peters sold 13,689 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $14.61, for a total transaction of $199,996.29. Following the completion of the sale, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at $2,155,384.08. The disclosure for this sale can be found here. Insiders sold 124,514 shares of company stock valued at $1,846,733 over the last three months. 0.52% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Regions Financial Corporation by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock valued at $395,848,000 after buying an additional 2,985,752 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Regions Financial Corporation by 53.9% in the first quarter. Toronto Dominion Bank now owns 326,968 shares of the bank’s stock valued at $4,750,000 after buying an additional 114,483 shares during the last quarter. Trexquant Investment LP raised its position in shares of Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock valued at $2,345,000 after buying an additional 33,700 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock valued at $638,000 after buying an additional 14,525 shares during the last quarter. Finally, Elkfork Partners LLC raised its position in shares of Regions Financial Corporation by 96.9% in the first quarter. Elkfork Partners LLC now owns 809,160 shares of the bank’s stock valued at $11,757,000 after buying an additional 398,112 shares during the last quarter. 75.40% of the stock is 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.

Analyst Recommendations for Regions Financial Corporation (NYSE:RF)

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