Jefferies Group LLC Reiterates “Hold” Rating for Regions Financial Corporation (RF)
Regions Financial Corporation (NYSE:RF)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group LLC in a research note issued on Friday. They currently have a $16.00 target price on the bank’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 13.72% from the company’s current price.
Several other research firms have also recently weighed in on RF. Deutsche Bank AG reiterated a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Instinet reiterated a “neutral” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a report on Wednesday, July 12th. Wells Fargo & Company started coverage on Regions Financial Corporation in a report on Wednesday. They set a “market perform” rating and a $16.00 price objective on the stock. Finally, Bank of America Corporation restated a “buy” rating and issued a $17.00 target price on shares of Regions Financial Corporation in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.21.
Shares of Regions Financial Corporation (NYSE RF) opened at 14.07 on Friday. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 14.70 and a beta of 1.31. The firm’s 50-day moving average is $14.54 and its 200-day moving average is $14.47. Regions Financial Corporation has a 1-year low of $9.28 and a 1-year high of $16.03.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business posted $0.20 EPS. Regions Financial Corporation’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.
Regions Financial Corporation declared that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $1.47 billion in outstanding shares. This buyback authorization allows the bank to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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In related news, Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $15.23, for a total transaction of $152,300.00. Following the transaction, the director now directly owns 32,188 shares of the company’s stock, valued at approximately $490,223.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $14.95, for a total value of $971,750.00. Following the transaction, the chief financial officer now directly owns 121,160 shares in the company, valued at $1,811,342. The disclosure for this sale can be found here. Insiders have sold a total of 124,514 shares of company stock worth $1,846,733 over the last three months. 0.52% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Regions Financial Corporation by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock worth $1,343,545,000 after buying an additional 89,604,919 shares during the last quarter. Boston Partners increased its stake in Regions Financial Corporation by 506.1% in the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock valued at $475,815,000 after buying an additional 27,138,273 shares during the period. Janus Capital Management LLC increased its stake in Regions Financial Corporation by 733.1% in the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock valued at $146,296,000 after buying an additional 8,859,912 shares during the period. First Trust Advisors LP increased its stake in Regions Financial Corporation by 250.9% in the first quarter. First Trust Advisors LP now owns 6,968,932 shares of the bank’s stock valued at $101,259,000 after buying an additional 4,982,921 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Regions Financial Corporation during the first quarter valued at about $56,133,000. 75.40% of the stock is currently owned by institutional investors and hedge funds.
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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