Regions Financial (NYSE:RF) received a $18.50 target price from equities researchers at Raymond James in a research note issued to investors on Thursday, TipRanks reports. The brokerage currently has a “buy” rating on the bank’s stock. Raymond James’ price objective indicates a potential upside of 12.53% from the stock’s previous close.
A number of other research analysts have also issued reports on the company. Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $15.00 to $17.00 in a report on Monday, July 22nd. SunTrust Banks dropped their target price on Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Bank of America lowered Regions Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $16.00 in a report on Thursday, July 11th. Finally, Morgan Stanley set a $16.00 target price on Regions Financial and gave the company a “hold” rating in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $17.34.
Shares of NYSE:RF traded up $0.09 during trading on Thursday, reaching $16.44. The company had a trading volume of 7,389,736 shares, compared to its average volume of 12,043,146. The firm has a market capitalization of $16.37 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.51 and a beta of 1.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.88. The stock’s fifty day moving average price is $14.80 and its 200 day moving average price is $14.91. Regions Financial has a fifty-two week low of $12.39 and a fifty-two week high of $19.55.
Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.39. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.49 billion. Regions Financial had a return on equity of 10.86% and a net margin of 26.43%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, equities analysts anticipate that Regions Financial will post 1.54 EPS for the current fiscal year.
Regions Financial announced that its board has authorized 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 repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, EVP C. Keith Herron sold 69,288 shares of Regions Financial stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $14.51, for a total value of $1,005,368.88. Following the sale, the executive vice president now directly owns 232,595 shares in the company, valued at $3,374,953.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO John B. Owen sold 40,000 shares of Regions Financial stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $14.63, for a total value of $585,200.00. Following the completion of the sale, the chief operating officer now owns 87,152 shares in the company, valued at $1,275,033.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,436 shares of company stock worth $2,024,102. Company insiders own 0.28% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Regions Financial by 0.4% during the second quarter. Vanguard Group Inc. now owns 124,955,465 shares of the bank’s stock worth $1,866,834,000 after purchasing an additional 540,749 shares in the last quarter. Geode Capital Management LLC boosted its position in Regions Financial by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 15,010,538 shares of the bank’s stock worth $200,519,000 after purchasing an additional 432,350 shares in the last quarter. Northern Trust Corp boosted its position in Regions Financial by 0.8% during the first quarter. Northern Trust Corp now owns 12,774,641 shares of the bank’s stock worth $180,761,000 after purchasing an additional 99,218 shares in the last quarter. Bank of America Corp DE boosted its position in Regions Financial by 20.6% during the second quarter. Bank of America Corp DE now owns 12,704,955 shares of the bank’s stock worth $189,812,000 after purchasing an additional 2,172,240 shares in the last quarter. Finally, Boston Partners boosted its position in Regions Financial by 6.2% during the second quarter. Boston Partners now owns 12,570,448 shares of the bank’s stock worth $187,804,000 after purchasing an additional 732,007 shares in the last quarter. Hedge funds and other institutional investors own 71.45% of the company’s stock.
Regions Financial Company Profile
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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