Regions Financial Corporation (NYSE:RF) – Stock analysts at FBR & Co lifted their FY2017 earnings per share estimates for shares of Regions Financial Corporation in a research report issued to clients and investors on Tuesday. FBR & Co analyst S. Moss now forecasts that the bank will post earnings per share of $1.00 for the year, up from their previous estimate of $0.99. FBR & Co currently has a “Neutral” rating and a $16.00 target price on the stock. FBR & Co also issued estimates for Regions Financial Corporation’s Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.31 EPS and Q4 2018 earnings at $0.31 EPS.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. Regions Financial Corporation’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS.
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Other equities analysts also recently issued reports about the company. Bank of America Corporation restated a “buy” rating and issued a $17.00 price objective on shares of Regions Financial Corporation in a report on Wednesday, July 26th. BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $15.00 price objective on shares of Regions Financial Corporation in a report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 price objective on Regions Financial Corporation and gave the stock a “hold” rating in a report on Tuesday, June 20th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $14.95.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a $0.09 dividend. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.41%. Regions Financial Corporation’s dividend payout ratio (DPR) is 37.89%.
Regions Financial Corporation announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $1.47 billion in outstanding shares. This buyback authorization allows the bank to buy up to 8.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, EVP Fournier J. Gale III sold 35,825 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total value of $522,686.75. Following the sale, the executive vice president now owns 109,318 shares of the company’s stock, valued at approximately $1,594,949.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $14.95, for a total value of $971,750.00. Following the completion of the sale, the chief financial officer now directly owns 121,160 shares in the company, valued at approximately $1,811,342. The disclosure for this sale can be found here. In the last three months, insiders sold 124,514 shares of company stock worth $1,846,733. Company insiders own 0.52% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RF. BlackRock Inc. raised its stake in Regions Financial Corporation by 3,130.8% during the 1st quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after acquiring an additional 89,604,919 shares in the last quarter. Boston Partners raised its stake in Regions Financial Corporation by 506.1% during the 2nd quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock valued at $475,815,000 after acquiring an additional 27,138,273 shares in the last quarter. Janus Henderson Group PLC raised its stake in Regions Financial Corporation by 8,065.3% during the 2nd quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock valued at $191,306,000 after acquiring an additional 12,907,276 shares in the last quarter. Janus Capital Management LLC raised its stake in Regions Financial Corporation by 733.1% during the 1st quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock valued at $146,296,000 after acquiring an additional 8,859,912 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Regions Financial Corporation during the 1st quarter valued at $56,133,000. 75.53% of the stock is currently 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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