FY2017 Earnings Forecast for Regions Financial Corporation (RF) Issued By Jefferies Group
Regions Financial Corporation (NYSE:RF) – Analysts at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for shares of Regions Financial Corporation in a research note issued on Monday. Jefferies Group analyst K. Usdin now expects that the bank will post earnings of $1.00 per share for the year, down from their prior forecast of $1.02. Jefferies Group has a “Hold” rating and a $16.00 price objective on the stock. Jefferies Group also issued estimates for Regions Financial Corporation’s FY2018 earnings at $1.11 EPS.
Other research analysts have also issued research reports about the stock. Piper Jaffray Companies reissued a “hold” rating and set a $14.50 target price on shares of Regions Financial Corporation in a research report on Thursday, August 17th. Keefe, Bruyette & Woods restated a “hold” rating and set a $15.50 price objective on shares of Regions Financial Corporation in a report on Wednesday, August 16th. Vining Sparks upgraded shares of Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Instinet restated a “neutral” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a report on Wednesday, July 12th. Finally, Robert W. Baird downgraded shares of Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a report on Monday, October 2nd. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Regions Financial Corporation presently has a consensus rating of “Hold” and a consensus target price of $14.95.
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Shares of Regions Financial Corporation (NYSE RF) opened at 15.04 on Wednesday. Regions Financial Corporation has a 52 week low of $9.78 and a 52 week high of $16.03. The firm has a market capitalization of $17.97 billion, a P/E ratio of 15.72 and a beta of 1.34. The stock’s 50 day moving average price is $14.38 and its 200 day moving average price is $14.29.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.39%. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is presently 37.89%.
Regions Financial Corporation announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $1.47 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
In other Regions Financial Corporation news, EVP Fournier J. Gale III sold 35,825 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the sale, the executive vice president now directly owns 109,318 shares of the company’s stock, valued at $1,594,949.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan W. Matlock sold 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $15.23, for a total transaction of $152,300.00. Following the sale, the director now directly owns 32,188 shares in the company, valued at $490,223.24. The disclosure for this sale can be found here. In the last three months, insiders sold 124,514 shares of company stock worth $1,846,733. 0.52% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. USA Financial Portformulas Corp grew its stake in Regions Financial Corporation by 17.1% during the second quarter. USA Financial Portformulas Corp now owns 36,303 shares of the bank’s stock worth $531,000 after buying an additional 5,295 shares during the last quarter. Sentry Investment Management LLC grew its stake in Regions Financial Corporation by 0.7% during the second quarter. Sentry Investment Management LLC now owns 53,166 shares of the bank’s stock worth $778,000 after buying an additional 345 shares during the last quarter. Toronto Dominion Bank grew its stake in Regions Financial Corporation by 24.8% during the second quarter. Toronto Dominion Bank now owns 408,156 shares of the bank’s stock worth $5,974,000 after buying an additional 81,188 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Regions Financial Corporation by 194.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 36,225 shares of the bank’s stock worth $531,000 after buying an additional 23,902 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in Regions Financial Corporation during the second quarter worth about $614,000. 75.53% of the stock is currently owned by hedge funds and other institutional investors.
Regions Financial Corporation 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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