Bank of America lowered shares of Regions Financial (NYSE:RF) from a buy rating to a neutral rating in a report published on Thursday, BenzingaRatingsTable reports. Bank of America currently has $16.00 price objective on the bank’s stock, down from their prior price objective of $18.00.
RF has been the topic of several other reports. UBS Group set a $169.00 target price on shares of M&T Bank and gave the stock a hold rating in a report on Tuesday, April 2nd. Macquarie set a $36.00 target price on shares of Steel Dynamics and gave the stock a hold rating in a report on Tuesday, April 23rd. Nomura raised their target price on shares of Equinix from $480.00 to $500.00 and gave the stock a buy rating in a report on Friday, March 29th. Morgan Stanley downgraded shares of Silicon Motion Technology from an equal weight rating to an underweight rating in a report on Monday, April 22nd. Finally, ValuEngine downgraded shares of Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $17.54.
Shares of NYSE:RF opened at $15.22 on Thursday. The firm has a market cap of $15.43 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 1.35 and a beta of 1.50. The company has a 50 day moving average price of $14.52. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.88. Regions Financial has a fifty-two week low of $12.39 and a fifty-two week high of $19.99.
Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. Regions Financial had a net margin of 26.38% and a return on equity of 10.76%. Regions Financial’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, equities analysts anticipate that Regions Financial will post 1.56 earnings per share for the current year.
Regions Financial announced that its board has initiated a share buyback plan on Thursday, June 27th that allows the company to repurchase $1.37 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.68%. Regions Financial’s dividend payout ratio (DPR) is presently 41.18%.
In other news, COO John B. Owen sold 61,756 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $15.25, for a total value of $941,779.00. Following the sale, the chief operating officer now directly owns 127,152 shares in the company, valued at $1,939,068. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott M. Peters sold 30,877 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $15.19, for a total transaction of $469,021.63. Following the completion of the transaction, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at $766,882.34. The disclosure for this sale can be found here. Insiders sold 123,510 shares of company stock worth $1,889,394 over the last quarter. 0.28% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Buffington Mohr McNeal bought a new position in shares of Regions Financial in the first quarter valued at $28,000. FinTrust Capital Advisors LLC grew its stake in shares of Regions Financial by 28.0% in the first quarter. FinTrust Capital Advisors LLC now owns 4,173 shares of the bank’s stock valued at $59,000 after buying an additional 913 shares in the last quarter. Mizuho Securities Co. Ltd. grew its stake in shares of Regions Financial by 176.5% in the first quarter. Mizuho Securities Co. Ltd. now owns 4,700 shares of the bank’s stock valued at $67,000 after buying an additional 3,000 shares in the last quarter. Thor Advisors LLC bought a new position in shares of Regions Financial in the first quarter valued at $72,000. Finally, North Star Investment Management Corp. grew its stake in shares of Regions Financial by 1,035.3% in the first quarter. North Star Investment Management Corp. now owns 5,790 shares of the bank’s stock valued at $82,000 after buying an additional 5,280 shares in the last quarter. 71.52% of the stock is owned by institutional investors and hedge funds.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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