Regions Financial Corp. (RF) Receives “Sell” Rating from Barclays PLC
A number of other equities research analysts also recently weighed in on the company. Sanford C. Bernstein downgraded Regions Financial Corp. from an outperform rating to a market perform rating and decreased their target price for the stock from $9.56 to $9.50 in a research report on Tuesday, August 16th. They noted that the move was a valuation call. Bank of America Corp. cut shares of Regions Financial Corp. from a buy rating to a neutral rating in a research note on Wednesday, June 29th. Credit Suisse Group AG set a $9.50 price target on shares of Regions Financial Corp. and gave the stock a hold rating in a research note on Wednesday, September 14th. Raymond James Financial Inc. cut shares of Regions Financial Corp. from a strong-buy rating to an outperform rating and set a $10.50 price target for the company. in a research note on Thursday, October 6th. Finally, Wedbush initiated coverage on shares of Regions Financial Corp. in a research note on Thursday, October 6th. They set an outperform rating and a $12.00 price target for the company. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $10.34.
Regions Financial Corp. (NYSE:RF) opened at 10.05 on Tuesday. Regions Financial Corp. has a 52 week low of $7.00 and a 52 week high of $10.47. The firm’s 50-day moving average price is $9.89 and its 200-day moving average price is $9.25. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 12.64 and a beta of 1.44.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, December 7th. Regions Financial Corp.’s dividend payout ratio (DPR) is 32.91%.
In other news, EVP Ellen S. Jones sold 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 54,886 shares of the company’s stock, valued at approximately $523,063.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP C. Keith Herron sold 38,753 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were 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 of the company’s stock, valued at approximately $2,723,801.92. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Simmons Bank purchased a new position in shares of Regions Financial Corp. during the first quarter valued at about $151,000. Geode Capital Management LLC boosted its stake in 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 stake in Regions Financial Corp. during the first quarter valued at approximately $955,000. Riverhead Capital Management LLC boosted its stake in 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 stake in Regions Financial Corp. during the first quarter valued at approximately $5,708,000. 74.29% of the stock is owned by institutional investors.
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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