Regions Financial Corp (NYSE:RF) – Jefferies Group upped their FY2018 earnings per share estimates for shares of Regions Financial in a research report issued to clients and investors on Monday, Zacks Investment Research reports. Jefferies Group analyst K. Usdin now forecasts that the bank will post earnings per share of $1.32 for the year, up from their previous estimate of $1.15. Jefferies Group also issued estimates for Regions Financial’s FY2019 earnings at $1.44 EPS.
Several other brokerages have also recently issued reports on RF. ValuEngine cut Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray Companies restated a “hold” rating and set a $17.00 price objective on shares of Regions Financial in a research note on Tuesday, January 9th. Robert W. Baird reiterated a “sell” rating and set a $17.00 price target on shares of Regions Financial in a research report on Wednesday, January 3rd. Barclays increased their price target on Regions Financial from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Finally, Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a research report on Thursday, December 21st. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.65.
Regions Financial (NYSE:RF) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RF. Pacer Advisors Inc. lifted its holdings in shares of Regions Financial by 8.3% in the second quarter. Pacer Advisors Inc. now owns 25,243 shares of the bank’s stock valued at $370,000 after purchasing an additional 1,939 shares in the last quarter. Tredje AP fonden raised its holdings in shares of Regions Financial by 21.7% during the second quarter. Tredje AP fonden now owns 109,894 shares of the bank’s stock worth $1,615,000 after acquiring an additional 19,590 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Regions Financial by 98.5% during the second quarter. Private Advisor Group LLC now owns 34,675 shares of the bank’s stock worth $511,000 after acquiring an additional 17,207 shares in the last quarter. AXA raised its holdings in shares of Regions Financial by 2.2% during the second quarter. AXA now owns 73,498 shares of the bank’s stock worth $1,076,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Martingale Asset Management L P raised its holdings in shares of Regions Financial by 1.7% during the second quarter. Martingale Asset Management L P now owns 114,979 shares of the bank’s stock worth $1,684,000 after acquiring an additional 1,908 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.
In other Regions Financial news, EVP Scott M. Peters sold 25,000 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total transaction of $396,000.00. Following the completion of the transaction, the executive vice president now directly owns 121,459 shares of the company’s stock, valued at approximately $1,923,910.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John E. D. D S. Maupin, Jr. sold 15,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total value of $255,600.00. Following the sale, the director now directly owns 59,436 shares of the company’s stock, valued at $1,012,789.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,000 shares of company stock valued at $1,278,400. 0.52% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, December 7th. Regions Financial’s payout ratio is currently 37.89%.
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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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