Analysts Issue Forecasts for Regions Financial Corp.’s Q3 2016 Earnings (RF)
Regions Financial Corp. (NYSE:RF) – Equities research analysts at FBR & Co issued their Q3 2016 earnings per share (EPS) estimates for shares of Regions Financial Corp. in a research report issued on Monday. FBR & Co analyst S. Moss expects that the firm will earn $0.21 per share for the quarter. FBR & Co currently has a “Marketperform” rating on the stock. FBR & Co also issued estimates for Regions Financial Corp.’s Q4 2016 earnings at $0.21 EPS, FY2016 earnings at $0.82 EPS, Q1 2017 earnings at $0.20 EPS, Q2 2017 earnings at $0.22 EPS, Q3 2017 earnings at $0.23 EPS, Q4 2017 earnings at $0.23 EPS and FY2017 earnings at $0.88 EPS.
Regions Financial Corp. (NYSE:RF) last announced its earnings results on Tuesday, July 19th. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. Regions Financial Corp. had a net margin of 18.63% and a return on equity of 6.65%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion.
A number of other research firms also recently commented on RF. Barclays PLC reiterated a “sell” rating and set a $10.00 target price on shares of Regions Financial Corp. in a research report on Tuesday. Wedbush started coverage on Regions Financial Corp. in a report on Thursday, October 6th. They set an “outperform” rating and a $12.00 price target on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. lowered Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 price target on the stock. in a report on Thursday, October 6th. Keefe, Bruyette & Woods upgraded Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 price target on the stock in a report on Thursday, August 25th. Finally, Credit Suisse Group AG set a $9.50 price target on Regions Financial Corp. and gave the company a “hold” rating in a report on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.34.
Shares of Regions Financial Corp. (NYSE:RF) traded down 4.150% during mid-day trading on Thursday, hitting $9.815. 8,649,344 shares of the stock were exchanged. Regions Financial Corp. has a 12 month low of $7.00 and a 12 month high of $10.47. The firm has a market cap of $12.32 billion, a P/E ratio of 12.346 and a beta of 1.44. The stock’s 50 day moving average is $9.87 and its 200 day moving average is $9.23.
In related news, EVP C. Keith Herron sold 38,753 shares of Regions Financial Corp. stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $9.38, for a total transaction of $363,503.14. Following the completion of the transaction, the executive vice president now directly owns 290,384 shares in the company, valued at $2,723,801.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ellen S. Jones sold 10,000 shares of Regions Financial Corp. stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $9.53, for a total value of $95,300.00. Following the transaction, the executive vice president now owns 54,886 shares of the company’s stock, valued at $523,063.58. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Simmons Bank bought a new position in shares of Regions Financial Corp. during the first quarter valued at $151,000. Geode Capital Management LLC boosted its position in shares of Regions Financial Corp. by 0.3% in the first quarter. Geode Capital Management LLC now owns 11,508,410 shares of the company’s stock valued at $90,175,000 after buying an additional 35,161 shares in the last quarter. Baker Avenue Asset Management LP bought a new position in shares of Regions Financial Corp. during the first quarter valued at $955,000. Riverhead Capital Management LLC boosted its position in shares of Regions Financial Corp. by 262.7% in the first quarter. Riverhead Capital Management LLC now owns 1,046,263 shares of the company’s stock valued at $8,213,000 after buying an additional 757,803 shares in the last quarter. Finally, AXA bought a new position in shares of Regions Financial Corp. during the first quarter valued at $5,708,000. Institutional investors own 74.29% of the company’s stock.
Regions Financial Corp. 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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