Credit Suisse Group AG Reiterates “$9.50” Price Target for Regions Financial Corp. (RF)
Several other equities analysts have also commented on the stock. Sanford C. Bernstein lowered shares of Regions Financial Corp. from an outperform rating to a market perform rating and dropped their price target for the company from $9.56 to $9.50 in a research note on Tuesday, August 16th. They noted that the move was a valuation call. Bank of America Corp. lowered shares of Regions Financial Corp. from a buy rating to a neutral rating in a research note on Wednesday, June 29th. Raymond James Financial Inc. upgraded shares of Regions Financial Corp. from an outperform rating to a strong-buy rating and set a $11.50 price target on the stock in a research note on Thursday, August 25th. TheStreet lowered shares of Regions Financial Corp. from a buy rating to a hold rating in a research note on Tuesday, July 5th. Finally, Keefe, Bruyette & Woods upgraded shares of Regions Financial Corp. from an underperform rating to a market perform rating and increased their price target for the company from $9.50 to $11.00 in a research note on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Regions Financial Corp. currently has an average rating of Buy and an average price target of $10.31.
Regions Financial Corp. (NYSE:RF) opened at 9.66 on Wednesday. The company has a 50 day moving average of $9.58 and a 200 day moving average of $9.02. The firm has a market capitalization of $12.13 billion, a PE ratio of 12.15 and a beta of 1.64. Regions Financial Corp. has a 1-year low of $7.00 and a 1-year high of $10.28.
Regions Financial Corp. (NYSE:RF) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Regions Financial Corp. had a net margin of 18.63% and a return on equity of 6.65%. Analysts forecast that Regions Financial Corp. will post $0.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Wednesday, September 7th. Regions Financial Corp.’s payout ratio is 32.91%.
In other news, EVP C. Keith Herron sold 38,753 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $9.38, for a total value of $363,503.14. Following the completion of the sale, the executive vice president now directly owns 290,384 shares in the company, valued at approximately $2,723,801.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott M. Peters sold 23,391 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $9.73, for a total value of $227,594.43. Following the completion of the sale, the executive vice president now owns 201,391 shares of the company’s stock, valued at $1,959,534.43. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Regions Financial Corp. by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,215 shares of the company’s stock worth $104,000 after buying an additional 710 shares during the period. MCF Advisors LLC increased its position in shares of Regions Financial Corp. by 0.5% in the first quarter. MCF Advisors LLC now owns 14,158 shares of the company’s stock worth $111,000 after buying an additional 71 shares during the last quarter. Kanaly Trust Co increased its position in shares of Regions Financial Corp. by 9.6% in the second quarter. Kanaly Trust Co now owns 13,044 shares of the company’s stock worth $111,000 after buying an additional 1,145 shares during the last quarter. Wesbanco Bank Inc. increased its position in shares of Regions Financial Corp. by 14.2% in the second quarter. Wesbanco Bank Inc. now owns 13,329 shares of the company’s stock worth $114,000 after buying an additional 1,662 shares during the last quarter. Finally, Paradigm Financial Advisors LLC bought a new position in shares of Regions Financial Corp. during the second quarter worth approximately $119,000. Institutional investors and hedge funds own 74.55% of the company’s stock.
About Regions Financial Corp.
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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