Regions Financial (NYSE:RF) was upgraded by equities researchers at Goldman Sachs Group from a “buy” rating to a “conviction-buy” rating in a report issued on Thursday, November 16th, The Fly reports.
A number of other brokerages also recently weighed in on RF. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $16.00 target price on shares of Regions Financial in a report on Wednesday, October 25th. Nomura reissued a “neutral” rating and set a $17.00 price objective (up previously from $16.00) on shares of Regions Financial in a report on Thursday, October 26th. J P Morgan Chase & Co raised their price objective on Regions Financial from $15.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. FBR & Co reissued a “hold” rating and set a $16.00 price objective on shares of Regions Financial in a report on Wednesday, October 25th. Finally, Robert W. Baird downgraded Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a report on Monday, October 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.60.
Regions Financial (NYSE RF) traded up $0.30 during mid-day trading on Thursday, hitting $16.95. The stock had a trading volume of 16,550,794 shares, compared to its average volume of 15,176,674. The company has a market capitalization of $19,313.52, a P/E ratio of 17.34, a P/E/G ratio of 1.51 and a beta of 1.30. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.39. Regions Financial has a 12 month low of $13.00 and a 12 month high of $17.12.
Regions Financial (NYSE:RF) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. analysts predict that Regions Financial will post 0.99 EPS for the current year.
In other news, EVP Scott M. Peters sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John B. Owen sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total value of $626,800.00. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of RF. Boston Partners lifted its stake in Regions Financial by 506.1% in the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock valued at $475,815,000 after purchasing an additional 27,138,273 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Regions Financial by 8,065.3% in 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 last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in Regions Financial by 257.2% in 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 last quarter. Samlyn Capital LLC raised its holdings in Regions Financial by 63.0% during the 2nd quarter. Samlyn Capital LLC now owns 9,074,895 shares of the bank’s stock valued at $132,856,000 after acquiring an additional 3,506,995 shares during the period. Finally, Shapiro Capital Management LLC bought a new stake in Regions Financial during the 2nd quarter valued at $47,308,000. Institutional investors and hedge funds own 75.70% of the company’s stock.
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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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