Regions Financial (NYSE:RF) had its target price decreased by Morgan Stanley from $19.00 to $18.00 in a research report report published on Monday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the bank’s stock.
Several other brokerages have also recently issued reports on RF. Wedbush raised their target price on shares of Regions Financial from $17.00 to $18.00 and gave the stock a neutral rating in a report on Thursday, February 28th. Sandler O’Neill cut shares of Regions Financial from a buy rating to a hold rating and set a $16.41 target price on the stock. in a report on Thursday, February 28th. FIG Partners restated a market-perform rating on shares of Regions Financial in a report on Thursday, February 21st. Barclays restated a sell rating and issued a $17.00 target price on shares of Regions Financial in a report on Thursday, February 21st. Finally, ValuEngine upgraded shares of Regions Financial from a strong sell rating to a sell rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial has an average rating of Hold and a consensus target price of $17.19.
Shares of Regions Financial stock opened at $15.47 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.88. Regions Financial has a 52-week low of $12.39 and a 52-week high of $19.99. The company has a market capitalization of $15.64 billion, a PE ratio of 11.38, a PEG ratio of 1.13 and a beta of 1.48.
Regions Financial (NYSE:RF) last issued its earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Regions Financial had a net margin of 26.38% and a return on equity of 10.76%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business earned $0.35 earnings per share. The business’s revenue was up .7% on a year-over-year basis. As a group, analysts predict that Regions Financial will post 1.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Thursday, June 6th. Regions Financial’s dividend payout ratio (DPR) is currently 41.18%.
In related news, COO John B. Owen sold 61,756 shares of Regions Financial stock in a transaction 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 owns 127,152 shares in the company, valued at $1,939,068. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott M. Peters sold 30,877 shares of Regions Financial 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 sale, the executive vice president now owns 50,486 shares in the company, valued at approximately $766,882.34. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Regions Financial during the fourth quarter valued at $146,362,000. JPMorgan Chase & Co. lifted its position in Regions Financial by 17.7% during the third quarter. JPMorgan Chase & Co. now owns 20,054,121 shares of the bank’s stock valued at $367,993,000 after buying an additional 3,013,569 shares during the period. Morgan Stanley lifted its position in Regions Financial by 61.7% during the third quarter. Morgan Stanley now owns 6,996,887 shares of the bank’s stock valued at $128,394,000 after buying an additional 2,670,907 shares during the period. Miller Howard Investments Inc. NY lifted its position in Regions Financial by 23,275.6% during the fourth quarter. Miller Howard Investments Inc. NY now owns 2,399,974 shares of the bank’s stock valued at $32,112,000 after buying an additional 2,389,707 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Regions Financial during the third quarter valued at $36,056,000. Institutional investors and hedge funds own 74.34% of the company’s stock.
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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