Regions Financial (RF) Upgraded to “Strong-Buy” at Raymond James

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Raymond James upgraded shares of Regions Financial (NYSE:RF) from an outperform rating to a strong-buy rating in a research report report published on Wednesday morning, MarketBeat.com reports. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on the stock. Wedbush set a $22.00 price target on shares of Regions Financial and gave the stock a buy rating in a research note on Friday, September 7th. Vining Sparks reiterated a buy rating and set a $22.00 price target on shares of Regions Financial in a research note on Tuesday, October 9th. Finally, B. Riley set a $20.00 price objective on shares of Regions Financial and gave the stock a hold rating in a research report on Monday, October 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Regions Financial currently has an average rating of Buy and an average target price of $18.67.

Shares of Regions Financial stock traded up $0.12 during trading hours on Wednesday, hitting $17.09. The company had a trading volume of 687,332 shares, compared to its average volume of 15,524,418. Regions Financial has a twelve month low of $15.06 and a twelve month high of $20.21. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.80. The stock has a market cap of $18.21 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.93 and a beta of 1.29.

Regions Financial (NYSE:RF) last issued its earnings results on Tuesday, October 23rd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Regions Financial had a net margin of 26.39% and a return on equity of 10.15%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts forecast that Regions Financial will post 1.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.28%. Regions Financial’s dividend payout ratio is presently 56.00%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in Regions Financial by 52.7% during the 2nd quarter. Millennium Management LLC now owns 19,743,411 shares of the bank’s stock valued at $351,038,000 after acquiring an additional 6,813,530 shares in the last quarter. Bank of Montreal Can increased its holdings in Regions Financial by 4.6% during the 2nd quarter. Bank of Montreal Can now owns 17,179,629 shares of the bank’s stock valued at $305,453,000 after acquiring an additional 754,073 shares in the last quarter. Bank of America Corp DE increased its holdings in Regions Financial by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 12,496,685 shares of the bank’s stock valued at $222,190,000 after acquiring an additional 95,653 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Regions Financial by 135.1% during the 2nd quarter. Janus Henderson Group PLC now owns 7,807,580 shares of the bank’s stock valued at $138,818,000 after acquiring an additional 4,486,512 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Regions Financial by 1.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,047,523 shares of the bank’s stock valued at $107,525,000 after acquiring an additional 61,567 shares in the last quarter. Institutional investors and hedge funds own 74.02% of the company’s stock.

Regions Financial Company Profile

Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.

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Analyst Recommendations for Regions Financial (NYSE:RF)

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