Regions Financial Corp. (RF) Price Target Raised to $13.00 at Deutsche Bank AG
RF has been the topic of a number of other reports. Raymond James Financial Inc. cut Regions Financial Corp. from a strong-buy rating to an outperform rating and set a $10.50 target price on the stock. in a research note on Thursday, October 6th. Piper Jaffray Cos. reiterated an overweight rating and set a $11.50 target price (up from $11.00) on shares of Regions Financial Corp. in a research note on Friday, October 21st. TheStreet upgraded Regions Financial Corp. from a hold rating to a buy rating in a research note on Friday, August 5th. Sandler O’Neill cut Regions Financial Corp. from a buy rating to a hold rating and set a $11.50 target price on the stock. in a research note on Tuesday, November 8th. Finally, Barclays PLC reiterated a sell rating and set a $10.00 target price on shares of Regions Financial Corp. in a research note on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $10.85.
Shares of Regions Financial Corp. (NYSE:RF) opened at 13.54 on Wednesday. Regions Financial Corp. has a 52-week low of $7.00 and a 52-week high of $13.64. The company has a market cap of $16.67 billion, a PE ratio of 15.91 and a beta of 1.35. The company’s 50-day moving average is $11.42 and its 200 day moving average is $9.90.
Regions Financial Corp. (NYSE:RF) last released its earnings results on Tuesday, October 18th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Regions Financial Corp. had a return on equity of 7.03% and a net margin of 19.43%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. On average, analysts anticipate that Regions Financial Corp. will post $0.87 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be given a $0.065 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $0.26 annualized dividend and a yield of 1.92%. Regions Financial Corp.’s payout ratio is currently 30.59%.
In other news, EVP William E. Horton sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $13.17, for a total transaction of $158,040.00. Following the transaction, the executive vice president now directly owns 19,434 shares of the company’s stock, valued at $255,945.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William D. Ritter sold 69,410 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $10.73, for a total value of $744,769.30. Following the transaction, the executive vice president now directly owns 321,691 shares in the company, valued at $3,451,744.43. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Virtus Investment Advisers Inc. acquired a new position in Regions Financial Corp. during the third quarter valued at about $102,000. TradeLink Capital LLC acquired a new position in Regions Financial Corp. during the third quarter valued at about $103,000. Meiji Yasuda Asset Management Co Ltd. boosted 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 valued at $104,000 after buying an additional 710 shares during the period. Paragon Capital Management Ltd boosted its position in Regions Financial Corp. by 7.9% in the third quarter. Paragon Capital Management Ltd now owns 10,827 shares of the company’s stock valued at $107,000 after buying an additional 796 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Regions Financial Corp. by 0.4% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 10,847 shares of the company’s stock valued at $108,000 after buying an additional 48 shares during the period. 72.31% of the stock is currently owned by hedge funds and other institutional investors.
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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