Shares of Regions Financial Corp (NYSE:RF) have earned an average rating of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.40.
RF has been the subject of a number of recent analyst reports. Bank of America downgraded Regions Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $16.00 in a research note on Thursday, July 11th. Morgan Stanley set a $16.00 price objective on Regions Financial and gave the company a “hold” rating in a research note on Friday, August 9th. ValuEngine upgraded Regions Financial from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 18th. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $15.00 to $17.00 in a research note on Monday, July 22nd. Finally, Macquarie downgraded Regions Financial from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 23rd.
NYSE RF traded down $0.09 on Thursday, reaching $13.57. The company had a trading volume of 14,389,823 shares, compared to its average volume of 12,241,277. The stock has a market capitalization of $13.65 billion, a P/E ratio of 9.98, a P/E/G ratio of 1.32 and a beta of 1.49. The company’s fifty day moving average is $15.08 and its 200 day moving average is $15.06. Regions Financial has a 52-week low of $12.39 and a 52-week high of $19.99. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.60.
Regions Financial declared that its Board of Directors has approved a stock repurchase program on Thursday, June 27th that authorizes the company to repurchase $1.37 billion in shares. This repurchase authorization authorizes the bank to buy up to 9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a dividend of $0.155 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.62 annualized dividend and a dividend yield of 4.57%. Regions Financial’s dividend payout ratio is presently 41.18%.
In other Regions Financial news, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $14.68, for a total value of $104,932.64. Following the sale, the insider now owns 34,482 shares of the company’s stock, valued at approximately $506,195.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John B. Owen sold 40,000 shares of the firm’s stock in a transaction dated 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 directly owns 87,152 shares in the company, valued at approximately $1,275,033.76. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Regions Financial by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 124,955,465 shares of the bank’s stock valued at $1,866,834,000 after acquiring an additional 540,749 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Regions Financial by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 15,010,538 shares of the bank’s stock valued at $200,519,000 after buying an additional 432,350 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Regions Financial by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,604,931 shares of the bank’s stock valued at $195,420,000 after buying an additional 286,879 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Regions Financial by 0.8% during the 1st quarter. Northern Trust Corp now owns 12,774,641 shares of the bank’s stock valued at $180,761,000 after buying an additional 99,218 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Regions Financial by 20.6% during the 2nd quarter. Bank of America Corp DE now owns 12,704,955 shares of the bank’s stock valued at $189,812,000 after buying an additional 2,172,240 shares in the last quarter. 71.89% of the stock is currently owned by hedge funds and other institutional investors.
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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