Regions Financial Corporation (NYSE:RF)‘s stock had its “neutral” rating reaffirmed by investment analysts at Instinet in a research note issued to investors on Wednesday, July 12th. They presently have a $16.00 price objective on the bank’s stock. Instinet’s price objective indicates a potential upside of 13.72% from the company’s current price.
A number of other equities analysts have also recently commented on the stock. Goldman Sachs Group, Inc. (The) reduced their price objective on shares of Regions Financial Corporation to $17.00 and set a “buy” rating for the company in a research report on Thursday, March 30th. Rafferty Capital Markets cut shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Thursday, April 20th. Bank of America Corporation raised shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $17.00 in a research report on Thursday, May 4th. Argus cut shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Monday, May 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 price objective on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Regions Financial Corporation currently has a consensus rating of “Hold” and an average target price of $14.21.
Regions Financial Corporation (NYSE RF) traded down 1.61% during mid-day trading on Wednesday, reaching $14.07. 18,741,361 shares of the company’s stock traded hands. Regions Financial Corporation has a 1-year low of $9.28 and a 1-year high of $16.03. The firm has a 50-day moving average price of $14.54 and a 200-day moving average price of $14.47. The stock has a market cap of $16.81 billion, a P/E ratio of 14.70 and a beta of 1.31.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $0.20 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Equities research analysts anticipate that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
Regions Financial Corporation declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to buyback $1.47 billion in shares. This buyback authorization allows the bank to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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In other Regions Financial Corporation news, EVP Fournier J. Gale III sold 35,825 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott M. Peters sold 13,689 shares of the business’s 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 transaction, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at approximately $2,155,384.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,514 shares of company stock valued at $1,846,733. Insiders own 0.52% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP purchased a new position in Regions Financial Corporation during the first quarter valued at about $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 valued at $104,000 after buying an additional 666 shares in the last quarter. Lloyds Banking Group plc purchased a new position in Regions Financial Corporation during the second quarter valued at about $108,000. Seven Eight Capital LP purchased a new position in Regions Financial Corporation during the second quarter valued at about $111,000. Finally, 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 valued at $126,000 after buying an additional 28 shares in the last quarter. 75.40% of the stock is owned by 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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