Regions Financial (NYSE:RF) posted its quarterly earnings data on Friday, January 19th. 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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial had a return on equity of 7.87% and a net margin of 20.48%. Regions Financial’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share.
Regions Financial (NYSE:RF) traded up $0.20 during midday trading on Monday, reaching $18.47. The company’s stock had a trading volume of 9,323,609 shares, compared to its average volume of 11,480,000. The company has a market cap of $21,420.00, a PE ratio of 18.47, a price-to-earnings-growth ratio of 1.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.86 and a quick ratio of 0.86. Regions Financial has a 12-month low of $13.00 and a 12-month high of $19.90.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, March 8th. Regions Financial’s payout ratio is 36.00%.
In related news, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott M. Peters sold 25,627 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $19.50, for a total value of $499,726.50. Following the transaction, the executive vice president now directly owns 240,796 shares in the company, valued at $4,695,522. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Several hedge funds have recently bought and sold shares of RF. Seven Eight Capital LP acquired a new position in shares of Regions Financial during the 2nd quarter worth approximately $111,000. Welch Investments LLC acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $120,000. Sun Life Financial INC increased its holdings in shares of Regions Financial by 98,133.3% during the 2nd quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after acquiring an additional 8,832 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in Regions Financial by 0.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after buying an additional 26 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Regions Financial in the 3rd quarter valued at $150,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on RF. Sandler O’Neill raised Regions Financial from a “hold” rating to a “buy” rating in a research report on Monday, January 22nd. Morgan Stanley raised their target price on Regions Financial from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. B. Riley reissued a “hold” rating and set a $19.00 price objective on shares of Regions Financial in a report on Monday, January 22nd. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 target price on shares of Regions Financial in a research note on Friday, January 19th. Finally, UBS Group upgraded Regions Financial from a “sell” rating to a “neutral” rating and raised their target price for the company from $15.00 to $18.00 in a research note on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.24.
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Regions Financial 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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