Regions Financial Corporation (RF) Stock Rating Upgraded by Vining Sparks
Vining Sparks upgraded shares of Regions Financial Corporation (NYSE:RF) from an outperform rating to a strong-buy rating in a report released on Wednesday morning, The Fly reports.
Several other research analysts have also commented on the company. Bank of America Corporation reissued a buy rating and issued a $17.00 price objective on shares of Regions Financial Corporation in a research report on Wednesday. BidaskClub lowered Regions Financial Corporation from a hold rating to a sell rating in a research report on Tuesday, July 25th. Instinet reissued a neutral rating and issued a $16.00 price objective on shares of Regions Financial Corporation in a research report on Wednesday, July 12th. Deutsche Bank AG reissued a hold rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada reissued a hold rating and issued a $15.00 price objective on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regions Financial Corporation presently has an average rating of Hold and an average price target of $14.13.
Shares of Regions Financial Corporation (NYSE RF) traded up 0.76% during midday trading on Wednesday, hitting $14.50. The stock had a trading volume of 16,575,052 shares. Regions Financial Corporation has a 12-month low of $8.82 and a 12-month high of $16.03. The stock has a market cap of $17.39 billion, a P/E ratio of 15.15 and a beta of 1.32. The stock has a 50-day moving average price of $14.43 and a 200-day moving average price of $14.44.
Regions Financial Corporation (NYSE:RF) last issued its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping the 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 analyst estimates of $1.43 billion. During the same period last year, the company posted $0.20 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that Regions Financial Corporation will post $1.00 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.48%. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio (DPR) is 29.47%.
Regions Financial Corporation declared that its board has approved a share buyback program on Wednesday, June 28th that permits the company to repurchase $1.47 billion in shares. This repurchase authorization permits the bank to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In related news, EVP Scott M. Peters sold 13,689 shares of Regions Financial Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $14.61, for a total value of $199,996.29. Following the completion of the transaction, the executive vice president now directly owns 147,528 shares in the company, valued at $2,155,384.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fournier J. Gale III sold 35,825 shares of Regions Financial Corporation 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 completion of the transaction, the executive vice president now owns 109,318 shares of the company’s stock, valued at $1,594,949.62. The disclosure for this sale can be found here. Insiders sold 79,514 shares of company stock valued at $1,151,683 over the last quarter. Insiders own 0.52% of the company’s stock.
A number of institutional investors have recently bought and sold shares of RF. FNY Partners Fund LP purchased a new position in Regions Financial Corporation during the first quarter worth approximately $103,000. Bronfman E.L. Rothschild L.P. increased its position in Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock worth $104,000 after buying an additional 666 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock worth $126,000 after buying an additional 28 shares during the period. Cornerstone Wealth Management LLC purchased a new position in Regions Financial Corporation during the first quarter worth approximately $146,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Regions Financial Corporation during the first quarter worth approximately $148,000. Institutional investors and hedge funds own 75.30% of the company’s stock.
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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