Royal Bank of Canada Reaffirms “Hold” Rating for Regions Financial (RF)
Royal Bank of Canada reissued their hold rating on shares of Regions Financial (NYSE:RF) in a research note released on Sunday morning. They currently have a $18.00 price objective on the bank’s stock.
Several other equities research analysts have also recently issued reports on RF. ValuEngine cut shares of Regions Financial from a buy rating to a hold rating in a research report on Tuesday, January 16th. Piper Jaffray Companies reiterated a hold rating and set a $18.00 price objective on shares of Regions Financial in a research report on Friday. Keefe, Bruyette & Woods reiterated a hold rating and set a $15.00 price objective on shares of Regions Financial in a research report on Tuesday, October 3rd. Robert W. Baird reiterated a sell rating and set a $17.00 price objective on shares of Regions Financial in a research report on Wednesday, January 3rd. Finally, UBS Group upgraded shares of Regions Financial from a sell rating to a neutral rating and lifted their price objective for the company from $15.00 to $18.00 in a research report on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $16.90.
Regions Financial (RF) traded up $0.52 during trading on Friday, hitting $18.67. 15,229,199 shares of the stock traded hands, compared to its average volume of 9,794,784. The company has a market capitalization of $21,790.00, a PE ratio of 18.67, a P/E/G ratio of 1.07 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 0.86. Regions Financial has a 52-week low of $13.00 and a 52-week high of $18.70.
In other Regions Financial news, EVP John B. Owen sold 40,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total transaction of $626,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott M. Peters sold 25,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.84, for a total transaction of $396,000.00. Following the transaction, the executive vice president now owns 121,459 shares in the company, valued at approximately $1,923,910.56. The disclosure for this sale can be found here. Insiders have sold 80,000 shares of company stock worth $1,278,400 in the last quarter. Company insiders own 0.52% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of RF. Janus Henderson Group PLC boosted its stake in shares of Regions Financial by 8,065.3% during the second quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock valued at $191,306,000 after purchasing an additional 12,907,276 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Regions Financial by 257.2% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 9,538,317 shares of the bank’s stock valued at $145,268,000 after purchasing an additional 6,868,243 shares during the period. Samlyn Capital LLC boosted its stake in shares of Regions Financial by 63.0% during the second quarter. Samlyn Capital LLC now owns 9,074,895 shares of the bank’s stock valued at $132,856,000 after purchasing an additional 3,506,995 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Regions Financial by 66.2% during the second quarter. Parametric Portfolio Associates LLC now owns 6,319,165 shares of the bank’s stock valued at $92,513,000 after purchasing an additional 2,517,411 shares during the period. Finally, Boston Partners boosted its stake in shares of Regions Financial by 3.7% during the third quarter. Boston Partners now owns 33,692,511 shares of the bank’s stock valued at $513,137,000 after purchasing an additional 1,191,474 shares during the period. 75.32% of the stock is owned by hedge funds and other institutional investors.
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About Regions Financial
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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