Regions Financial Corporation (RF) Short Interest Down 26.4% in October
Regions Financial Corporation (NYSE:RF) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 20,741,345 shares, a decline of 26.4% from the October 13th total of 28,196,705 shares. Based on an average daily volume of 12,720,363 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.8% of the company’s shares are short sold.
Several research firms have recently commented on RF. Goldman Sachs Group, Inc. (The) upgraded Regions Financial Corporation from a “buy” rating to a “conviction-buy” rating in a report on Thursday. Jefferies Group LLC restated a “hold” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a report on Friday, August 11th. Piper Jaffray Companies restated a “hold” rating and set a $14.50 price objective on shares of Regions Financial Corporation in a 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. Finally, Vining Sparks upgraded Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Regions Financial Corporation currently has an average rating of “Hold” and an average price target of $15.31.
Regions Financial Corporation (RF) opened at $15.80 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.85 and a quick ratio of 0.84. Regions Financial Corporation has a 1 year low of $12.98 and a 1 year high of $16.03. The firm has a market capitalization of $18,210.00, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.25 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Regions Financial Corporation had a return on equity of 7.56% and a net margin of 20.14%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. equities analysts expect that Regions Financial Corporation will post 0.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a $0.09 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.36 annualized dividend and a yield of 2.28%. Regions Financial Corporation’s dividend payout ratio is currently 37.89%.
In other Regions Financial Corporation news, EVP John B. Owen sold 40,000 shares of Regions Financial Corporation stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total value of $626,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott M. Peters sold 25,000 shares of Regions Financial Corporation stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total value of $396,000.00. Following the completion of the sale, the executive vice president now owns 121,459 shares of the company’s stock, valued at $1,923,910.56. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of RF. Lloyds Banking Group plc purchased a new position in shares of Regions Financial Corporation during the 2nd quarter valued at $108,000. Seven Eight Capital LP purchased a new position in shares of Regions Financial Corporation during the 2nd quarter valued at $111,000. Sun Life Financial INC lifted its position in shares of Regions Financial Corporation by 98,133.3% during the 2nd quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after buying an additional 8,832 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in shares of Regions Financial Corporation by 0.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after buying an additional 26 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Regions Financial Corporation during the 2nd quarter valued at $139,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.
About Regions Financial Corporation
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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