Regions Financial (NYSE:RF – Free Report) had its price target trimmed by Barclays from $23.00 to $20.00 in a report issued on Monday, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.
Other equities analysts have also issued reports about the stock. The Goldman Sachs Group cut their price objective on shares of Regions Financial from $22.50 to $19.50 and set a buy rating for the company in a research report on Monday. DA Davidson boosted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company a buy rating in a research report on Monday, July 24th. Wedbush lowered Regions Financial from an outperform rating to a neutral rating in a research note on Friday. Wells Fargo & Company downgraded Regions Financial from an overweight rating to an equal weight rating and dropped their price target for the company from $24.00 to $16.00 in a research report on Friday. Finally, Stephens restated an equal weight rating and issued a $20.00 price objective on shares of Regions Financial in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $20.42.
View Our Latest Research Report on RF
Regions Financial Trading Down 1.7 %
Regions Financial (NYSE:RF – Get Free Report) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.09). Regions Financial had a net margin of 26.39% and a return on equity of 15.86%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts anticipate that Regions Financial will post 2.36 earnings per share for the current year.
Regions Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.96 annualized dividend and a yield of 6.77%. Regions Financial’s payout ratio is 40.00%.
Insider Buying and Selling at Regions Financial
In related news, EVP Ronald G. Smith sold 10,000 shares of Regions Financial stock in a transaction on Monday, August 7th. The shares were sold at an average price of $20.93, for a total value of $209,300.00. Following the transaction, the executive vice president now directly owns 281,151 shares of the company’s stock, valued at $5,884,490.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.
Institutional Trading of Regions Financial
Several large investors have recently modified their holdings of RF. Yousif Capital Management LLC grew its position in shares of Regions Financial by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 149,877 shares of the bank’s stock worth $3,336,000 after buying an additional 1,249 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Regions Financial by 23.5% during the 1st quarter. Vontobel Holding Ltd. now owns 24,426 shares of the bank’s stock valued at $553,000 after purchasing an additional 4,648 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Regions Financial by 929.9% during the first quarter. Allianz Asset Management GmbH now owns 1,070,728 shares of the bank’s stock valued at $23,834,000 after buying an additional 966,768 shares during the period. Brown Brothers Harriman & Co. raised its stake in Regions Financial by 44.7% in the first quarter. Brown Brothers Harriman & Co. now owns 15,715 shares of the bank’s stock worth $350,000 after buying an additional 4,852 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Regions Financial by 41.7% in the first quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank’s stock worth $56,000 after buying an additional 737 shares during the period. 75.84% of the stock is owned by institutional investors.
Regions Financial Company Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. 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; 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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