Regions Financial Corp. (RF) Downgraded by FBR & Co
FBR & Co cut shares of Regions Financial Corp. (NYSE:RF) from an outperform rating to a market perform rating in a research report released on Tuesday. FBR & Co currently has $10.50 price objective on the stock.
A number of other equities research analysts also recently issued reports on the stock. Nomura reiterated a hold rating on shares of Regions Financial Corp. in a research note on Saturday, July 9th. Wells Fargo & Co. restated a hold rating on shares of Regions Financial Corp. in a report on Saturday, July 9th. Barclays PLC reissued a sell rating on shares of Regions Financial Corp. in a research report on Saturday, July 9th. Deutsche Bank AG reissued a hold rating on shares of Regions Financial Corp. in a research report on Wednesday, June 15th. Finally, Evercore ISI reissued a buy rating and issued a $10.00 price target (up previously from $9.00) on shares of Regions Financial Corp. in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Regions Financial Corp. has a consensus rating of Hold and an average price target of $10.34.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.59%. Regions Financial Corp.’s dividend payout ratio is presently 32.91%.
In other Regions Financial Corp. news, EVP Scott M. Peters sold 23,391 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $9.73, for a total value of $227,594.43. Following the completion of the transaction, the executive vice president now owns 201,391 shares in the company, valued at $1,959,534.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP C. Keith Herron sold 38,753 shares of the stock in a transaction 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 transaction, the executive vice president now owns 290,384 shares of the company’s stock, valued at approximately $2,723,801.92. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in 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. Kanaly Trust Co increased its position in 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 period. Wesbanco Bank Inc. increased its position in 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 period. Private Bank & Trust Co. increased its position in Regions Financial Corp. by 35.5% in the third quarter. Private Bank & Trust Co. now owns 13,551 shares of the company’s stock worth $134,000 after buying an additional 3,551 shares during the period. Finally, Paradigm Financial Advisors LLC purchased a new position in Regions Financial Corp. during the second quarter worth about $119,000. Institutional investors and hedge funds own 74.26% 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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