Trade Report: The Regions Financial Corp. (RF) Now Covered by Analysts at Wedbush

The Regions Financial Corp. (RF) Now Covered by Analysts at Wedbush

Wedbush began coverage on shares of Regions Financial Corp. (NYSE:RF) in a research report sent to investors on Thursday morning. The firm issued an outperform rating and a $12.00 price objective on the stock. The analysts noted that the move was a valuation call.

Other analysts have also issued reports about the company. Nomura reaffirmed a hold rating on shares of Regions Financial Corp. in a research note on Saturday, July 9th. Wells Fargo & Co. reaffirmed a hold rating on shares of Regions Financial Corp. in a research note on Saturday, July 9th. Barclays PLC reaffirmed a sell rating on shares of Regions Financial Corp. in a research note on Saturday, July 9th. Raymond James Financial Inc. lowered Regions Financial Corp. from a strong-buy rating to an outperform rating in a research note on Thursday. Finally, Credit Suisse Group AG reaffirmed a hold rating on shares of Regions Financial Corp. in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Regions Financial Corp. has an average rating of Buy and an average target price of $10.38.

Regions Financial Corp. (NYSE:RF) traded down 0.58% during mid-day trading on Thursday, reaching $10.26. The company’s stock had a trading volume of 9,724,409 shares. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of 12.91 and a beta of 1.44. Regions Financial Corp. has a 12-month low of $7.00 and a 12-month high of $10.43. The firm’s 50 day moving average price is $9.80 and its 200 day moving average price is $9.17.

Regions Financial Corp. (NYSE:RF) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. The firm earned $1.40 billion during the quarter, compared to analyst estimates of $1.37 billion. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. On average, equities analysts predict that Regions Financial Corp. will post $0.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were given a $0.065 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.52%. Regions Financial Corp.’s dividend payout ratio (DPR) is presently 32.91%.

In related news, EVP C. Keith Herron sold 38,753 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $9.38, for a total value of $363,503.14. Following the completion of the sale, the executive vice president now directly owns 290,384 shares of the company’s stock, valued at approximately $2,723,801.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott M. Peters sold 23,391 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $9.73, for a total value of $227,594.43. Following the completion of the sale, the executive vice president now directly owns 201,391 shares of the company’s stock, valued at $1,959,534.43. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in RF. AJO LP boosted its stake in shares of Regions Financial Corp. by 665.8% in the second quarter. AJO LP now owns 12,532,352 shares of the company’s stock worth $106,650,000 after buying an additional 10,895,919 shares during the period. Bank of Montreal Can purchased a new stake in shares of Regions Financial Corp. during the second quarter worth about $44,648,000. Basswood Capital Management L.L.C. boosted its stake in shares of Regions Financial Corp. by 70.7% in the second quarter. Basswood Capital Management L.L.C. now owns 11,942,752 shares of the company’s stock worth $101,633,000 after buying an additional 4,944,933 shares during the period. Samlyn Capital LLC boosted its stake in shares of Regions Financial Corp. by 66.0% in the first quarter. Samlyn Capital LLC now owns 11,611,786 shares of the company’s stock worth $91,152,000 after buying an additional 4,616,877 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in shares of Regions Financial Corp. during the second quarter worth about $36,379,000. 74.29% of the stock is owned by hedge funds and other institutional investors.

About Regions Financial Corp.

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