Regions Financial Corporation (NYSE:RF) Stock Rating Lowered by BidaskClub
Regions Financial Corporation (NYSE:RF) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
Other equities research analysts have also recently issued reports about the company. FBR & Co set a $18.00 price objective on Regions Financial Corporation and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Bank of America Corporation upgraded Regions Financial Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $15.00 to $17.00 in a research note on Thursday, May 4th. Royal Bank Of Canada restated a “hold” rating and set a $15.00 price objective on shares of Regions Financial Corporation in a research note on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 price objective on Regions Financial Corporation and gave the stock a “hold” rating in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC restated a “hold” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a research note on Monday, May 15th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.21.
Shares of Regions Financial Corporation (NYSE:RF) traded up 2.42% during trading on Monday, hitting $14.41. The stock had a trading volume of 12,035,895 shares. Regions Financial Corporation has a 12 month low of $9.37 and a 12 month high of $16.03. The stock has a 50-day moving average price of $14.56 and a 200 day moving average price of $14.47. The company has a market cap of $17.22 billion, a P/E ratio of 15.06 and a beta of 1.31.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. Equities analysts expect that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
Regions Financial Corporation declared that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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In other news, EVP Fournier J. Gale III sold 35,825 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total value of $522,686.75. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the completion of 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 sold 124,514 shares of company stock worth $1,846,733 over the last three months. Corporate insiders own 0.52% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Green Square Capital LLC purchased a new position in shares of Regions Financial Corporation during the second quarter worth $235,000. BlueCrest Capital Management Ltd purchased a new position in shares of Regions Financial Corporation during the second quarter worth $3,006,000. FTB Advisors Inc. raised its position in shares of Regions Financial Corporation by 6.1% in the second quarter. FTB Advisors Inc. now owns 24,068 shares of the bank’s stock worth $351,000 after buying an additional 1,387 shares in the last quarter. Colonial Trust Advisors raised its position in shares of Regions Financial Corporation by 54.5% in the second quarter. Colonial Trust Advisors now owns 34,184 shares of the bank’s stock worth $500,000 after buying an additional 12,060 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Regions Financial Corporation by 8,065.3% in the second quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock worth $191,306,000 after buying an additional 12,907,276 shares in the last quarter. 76.61% 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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