Regions Financial (NYSE:RF) Downgraded by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Regions Financial (NYSE:RFGet Rating) from an outperform rating to a market perform rating in a report issued on Monday, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the company. Robert W. Baird reaffirmed a neutral rating and issued a $23.00 price objective on shares of Regions Financial in a research note on Wednesday, August 3rd. Wedbush reaffirmed an outperform rating and issued a $25.00 price objective on shares of Regions Financial in a research note on Wednesday, September 28th. Compass Point reduced their price objective on Regions Financial to $23.00 in a research note on Thursday, October 20th. JPMorgan Chase & Co. lifted their price objective on Regions Financial from $23.50 to $25.00 in a research note on Wednesday, November 2nd. Finally, Raymond James reduced their price objective on Regions Financial from $24.00 to $23.00 and set an outperform rating on the stock in a research note on Monday, October 24th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $24.50.

Regions Financial Stock Up 0.4 %

RF opened at $22.74 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.95 and a beta of 1.22. The business has a 50-day moving average of $21.53 and a two-hundred day moving average of $21.01. Regions Financial has a 12 month low of $18.01 and a 12 month high of $25.57.

Regions Financial (NYSE:RFGet Rating) last posted its quarterly earnings results on Friday, October 21st. The bank reported $0.43 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.16). The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Regions Financial had a net margin of 28.34% and a return on equity of 14.13%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 EPS. On average, research analysts expect that Regions Financial will post 2.35 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, December 7th. Regions Financial’s payout ratio is 40.00%.

Hedge Funds Weigh In On Regions Financial

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its position in shares of Regions Financial by 8.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 599,230 shares of the bank’s stock valued at $13,339,000 after purchasing an additional 45,132 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Regions Financial by 6.3% in the 1st quarter. Van ECK Associates Corp now owns 24,234 shares of the bank’s stock valued at $539,000 after acquiring an additional 1,440 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $221,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of Regions Financial by 305.6% in the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 48,281 shares of the bank’s stock valued at $905,000 after acquiring an additional 36,378 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Regions Financial by 5.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 271,513 shares of the bank’s stock valued at $5,193,000 after acquiring an additional 13,551 shares during the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.

Regions Financial Company Profile

(Get Rating)

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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