Regions Financial Corporation (NYSE:RF) – Analysts at Jefferies Group dropped their Q3 2017 earnings per share (EPS) estimates for Regions Financial Corporation in a report issued on Monday. Jefferies Group analyst K. Usdin now anticipates that the bank will post earnings of $0.26 per share for the quarter, down from their previous forecast of $0.27. Jefferies Group has a “Hold” rating and a $16.00 price target on the stock. Jefferies Group also issued estimates for Regions Financial Corporation’s FY2019 earnings at $1.20 EPS.
A number of other analysts have also recently commented on RF. Keefe, Bruyette & Woods set a $15.00 price objective on Regions Financial Corporation and gave the company a “hold” rating in a research report on Tuesday, June 20th. Royal Bank Of Canada reiterated a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Instinet upped their target price on Regions Financial Corporation from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, June 30th. Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Finally, BidaskClub cut Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.95.
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Shares of Regions Financial Corporation (RF) opened at 15.04 on Tuesday. Regions Financial Corporation has a 12-month low of $9.78 and a 12-month high of $16.03. The company has a 50-day moving average of $14.38 and a 200 day moving average of $14.29. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of 15.72 and a beta of 1.34.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, September 7th. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is 37.89%.
Regions Financial Corporation declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Regions Financial Corporation news, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the sale, the chief financial officer now owns 121,160 shares of the company’s stock, valued at $1,811,342. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $15.23, for a total value of $152,300.00. Following the sale, the director now directly owns 32,188 shares of the company’s stock, valued at approximately $490,223.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of RF. Salem Investment Counselors Inc. lifted its stake in shares of Regions Financial Corporation by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after purchasing an additional 26 shares in the last quarter. IFC Holdings Incorporated FL lifted its stake in shares of Regions Financial Corporation by 0.3% during the second quarter. IFC Holdings Incorporated FL now owns 20,289 shares of the bank’s stock worth $295,000 after purchasing an additional 58 shares in the last quarter. Advisor Partners LLC lifted its stake in shares of Regions Financial Corporation by 0.3% during the second quarter. Advisor Partners LLC now owns 20,041 shares of the bank’s stock worth $293,000 after purchasing an additional 59 shares in the last quarter. Lbmc Investment Advisors LLC lifted its stake in shares of Regions Financial Corporation by 0.3% during the second quarter. Lbmc Investment Advisors LLC now owns 31,904 shares of the bank’s stock worth $467,000 after purchasing an additional 109 shares in the last quarter. Finally, Huntington National Bank lifted its stake in shares of Regions Financial Corporation by 0.9% during the second quarter. Huntington National Bank now owns 17,347 shares of the bank’s stock worth $254,000 after purchasing an additional 161 shares in the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.
Regions Financial Corporation Company Profile
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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