Regions Financial Corporation (RF) Earns Hold Rating from Keefe, Bruyette & Woods

Regions Financial Corporation (NYSE:RF)‘s stock had its “hold” rating reissued by stock analysts at Keefe, Bruyette & Woods in a research report issued on Wednesday. They presently have a $15.50 target price on the bank’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 10.79% from the company’s previous close.

A number of other research firms have also weighed in on RF. Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. BidaskClub upgraded shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Instinet restated a “neutral” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a research note on Wednesday, July 12th. Wells Fargo & Company began coverage on shares of Regions Financial Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $16.00 price objective for the company. Finally, Bank of America Corporation restated a “buy” rating and set a $17.00 price objective on shares of Regions Financial Corporation in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.63.

Regions Financial Corporation (NYSE:RF) opened at 13.99 on Wednesday. Regions Financial Corporation has a one year low of $9.37 and a one year high of $16.03. The firm has a market capitalization of $16.72 billion, a PE ratio of 14.62 and a beta of 1.31. The stock’s 50 day moving average is $14.59 and its 200-day moving average is $14.46.

Regions Financial Corporation (NYSE:RF) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. Regions Financial Corporation’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. On average, 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 authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $1.47 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors 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 Regions Financial Corporation stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of Regions Financial Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the transaction, the chief financial officer now directly owns 121,160 shares in the company, valued at approximately $1,811,342. The disclosure for this sale can be found here. Insiders have sold 124,514 shares of company stock worth $1,846,733 in the last ninety days. Insiders own 0.52% of the company’s stock.

A number of institutional investors have recently modified their holdings of RF. JPMorgan Chase & Co. increased its position in shares of Regions Financial Corporation by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock valued at $395,848,000 after buying an additional 2,985,752 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Regions Financial Corporation by 53.9% in the first quarter. Toronto Dominion Bank now owns 326,968 shares of the bank’s stock valued at $4,750,000 after buying an additional 114,483 shares in the last quarter. Trexquant Investment LP increased its position in shares of Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock valued at $2,345,000 after buying an additional 33,700 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock valued at $638,000 after buying an additional 14,525 shares in the last quarter. Finally, Elkfork Partners LLC increased its position in shares of Regions Financial Corporation by 96.9% in the first quarter. Elkfork Partners LLC now owns 809,160 shares of the bank’s stock valued at $11,757,000 after buying an additional 398,112 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

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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