Regions Financial (NYSE:RF) released its quarterly earnings results on Friday. The bank reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01, RTT News reports. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS.
Shares of Regions Financial (NYSE RF) opened at $18.67 on Friday. Regions Financial has a 12 month low of $13.00 and a 12 month high of $18.70. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $21,053.47, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30.
Several research firms have recently commented on RF. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 price objective on shares of Regions Financial in a research note on Friday. ValuEngine lowered Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird restated a “sell” rating and issued a $17.00 price objective on shares of Regions Financial in a research note on Wednesday, January 3rd. Barclays upped their price objective on Regions Financial from $15.00 to $19.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Finally, Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Thursday, December 21st. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Regions Financial presently has a consensus rating of “Hold” and an average target price of $16.70.
In other Regions Financial news, EVP John B. Owen sold 40,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total transaction of $626,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John E. D. D S. Maupin, Jr. sold 15,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $17.04, for a total transaction of $255,600.00. Following the transaction, the director now directly owns 59,436 shares of the company’s stock, valued at approximately $1,012,789.44. The disclosure for this sale can be found here. Insiders sold a total of 80,000 shares of company stock valued at $1,278,400 in the last quarter. 0.52% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its holdings in shares of Regions Financial by 45.0% during the 4th quarter. State of Alaska Department of Revenue now owns 227,153 shares of the bank’s stock valued at $3,923,000 after purchasing an additional 70,510 shares during the last quarter. Creative Planning boosted its holdings in shares of Regions Financial by 66.4% during the 4th quarter. Creative Planning now owns 78,028 shares of the bank’s stock valued at $1,348,000 after purchasing an additional 31,129 shares during the last quarter. National Pension Service boosted its holdings in shares of Regions Financial by 1.7% during the 4th quarter. National Pension Service now owns 1,218,410 shares of the bank’s stock valued at $21,054,000 after purchasing an additional 19,953 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Regions Financial by 4.2% during the 4th quarter. Bank of Montreal Can now owns 5,307,667 shares of the bank’s stock valued at $91,717,000 after purchasing an additional 213,156 shares during the last quarter. Finally, Country Club Trust Company n.a. boosted its holdings in shares of Regions Financial by 182.7% during the 4th quarter. Country Club Trust Company n.a. now owns 439,015 shares of the bank’s stock valued at $7,586,000 after purchasing an additional 283,720 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.
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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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