Regions Financial Corporation (NYSE:RF)‘s stock had its “hold” rating restated by investment analysts at Piper Jaffray Companies in a research note issued on Tuesday. They currently have a $14.50 price objective on the bank’s stock. Piper Jaffray Companies’ target price points to a potential upside of 3.42% from the stock’s current price.
RF has been the topic of a number of other reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.50 price target on shares of Regions Financial Corporation in a research report on Friday. Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Bank of America Corporation reissued a “buy” rating and set a $17.00 target price on shares of Regions Financial Corporation in a research report on Wednesday, July 26th. BidaskClub cut shares of Regions Financial Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Wells Fargo & Company began coverage on shares of Regions Financial Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $16.00 target price on the stock. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.89.
Shares of Regions Financial Corporation (NYSE:RF) opened at 14.02 on Tuesday. The stock has a market capitalization of $16.76 billion, a P/E ratio of 14.65 and a beta of 1.33. Regions Financial Corporation has a 52 week low of $9.45 and a 52 week high of $16.03. The company’s 50-day moving average is $14.19 and its 200 day moving average is $14.28.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. Regions Financial Corporation’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. On average, equities analysts forecast that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
Regions Financial Corporation announced that its board has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $1.47 billion in shares. This buyback authorization allows the bank to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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In other Regions Financial Corporation news, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the sale, the chief financial officer now owns 121,160 shares in the company, valued at $1,811,342. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $15.23, for a total transaction of $152,300.00. Following the sale, the director now owns 32,188 shares of the company’s stock, valued at approximately $490,223.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Regions Financial Corporation by 1.3% during the second quarter. Vanguard Group Inc. now owns 134,473,976 shares of the bank’s stock valued at $1,968,699,000 after purchasing an additional 1,742,890 shares during the last quarter. BlackRock Inc. increased its stake in Regions Financial Corporation by 3,130.8% during the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after purchasing an additional 89,604,919 shares during the last quarter. Boston Partners increased its stake in Regions Financial Corporation by 506.1% during the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock valued at $475,815,000 after purchasing an additional 27,138,273 shares during the last quarter. LSV Asset Management increased its stake in Regions Financial Corporation by 1.1% during the second quarter. LSV Asset Management now owns 27,572,058 shares of the bank’s stock valued at $403,654,000 after purchasing an additional 295,476 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Regions Financial Corporation by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock valued at $395,848,000 after purchasing an additional 2,985,752 shares during the last quarter. Hedge funds and other institutional investors own 75.56% of the company’s stock.
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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