Regions Financial (NYSE:RF)‘s stock had its “hold” rating reissued by research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday, January 9th. They presently have a $17.00 price objective on the bank’s stock. Piper Jaffray Companies’ price target would indicate a potential downside of 7.41% from the company’s current price.
Several other research analysts also recently issued reports on RF. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 target price on shares of Regions Financial in a research note on Friday, September 15th. Robert W. Baird cut shares of Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a report on Monday, October 2nd. Citigroup reissued a “neutral” rating and set a $16.00 price objective (up from $15.00) on shares of Regions Financial in a report on Monday, October 9th. FBR & Co cut shares of Regions Financial from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Tuesday, October 10th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $16.00 target price on shares of Regions Financial in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $16.65.
Regions Financial (RF) traded up $0.20 during trading hours on Tuesday, reaching $18.36. 10,112,942 shares of the company traded hands, compared to its average volume of 9,720,000. Regions Financial has a 1-year low of $13.00 and a 1-year high of $18.43. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $21,300.00, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.06 and a beta of 1.30.
Regions Financial (NYSE:RF) last issued its earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 20.14% and a return on equity of 7.56%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. analysts anticipate that Regions Financial will post 0.99 earnings per share for the current year.
In related news, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $17.04, for a total value of $255,600.00. Following the transaction, the director now owns 59,436 shares of the company’s stock, valued at approximately $1,012,789.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott M. Peters sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $15.84, for a total transaction of $396,000.00. Following the completion of the transaction, the executive vice president now directly owns 121,459 shares in the company, valued at approximately $1,923,910.56. The disclosure for this sale can be found here. In the last three months, insiders sold 80,000 shares of company stock worth $1,278,400. Insiders own 0.52% of the company’s stock.
A number of hedge funds have recently bought and sold shares of RF. Seven Eight Capital LP purchased a new position in Regions Financial during the 2nd quarter valued at about $111,000. Sun Life Financial INC increased its position in Regions Financial by 98,133.3% during the 2nd quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after purchasing an additional 8,832 shares during the period. Salem Investment Counselors Inc. increased its position in Regions Financial by 0.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after purchasing an additional 26 shares during the period. Captrust Financial Advisors purchased a new position in Regions Financial during the 2nd quarter valued at about $139,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in Regions Financial during the 3rd quarter valued at about $150,000. 75.27% of the stock is currently owned by 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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