Trade Report: Today, Regions Financial Corp. (RF) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Today, Regions Financial Corp. (RF) Posts Quarterly  Earnings Results, Beats Expectations By $0.03 EPS

Regions Financial Corp. (NYSE:RF) announced its quarterly earnings data on Tuesday. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. The firm earned $1.46 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $0.18 EPS.

Shares of Regions Financial Corp. (NYSE:RF) opened at 10.01 on Tuesday. The stock’s 50 day moving average price is $9.90 and its 200-day moving average price is $9.29. Regions Financial Corp. has a 52-week low of $7.00 and a 52-week high of $10.47. The company has a market capitalization of $12.56 billion, a PE ratio of 12.59 and a beta of 1.44.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, December 7th. Regions Financial Corp.’s dividend payout ratio is presently 32.91%.

In related news, EVP C. Keith Herron sold 38,753 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $9.38, for a total transaction of $363,503.14. Following the completion of the transaction, the executive vice president now directly owns 290,384 shares of the company’s stock, valued at $2,723,801.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ellen S. Jones sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $9.53, for a total value of $95,300.00. Following the transaction, the executive vice president now directly owns 54,886 shares of the company’s stock, valued at $523,063.58. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Regions Financial Corp. by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,215 shares of the company’s stock worth $104,000 after buying an additional 710 shares during the last quarter. Woodmont Investment Counsel LLC boosted its stake in Regions Financial Corp. by 3.1% in the second quarter. Woodmont Investment Counsel LLC now owns 14,144 shares of the company’s stock worth $120,000 after buying an additional 426 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Regions Financial Corp. by 7.2% in the second quarter. Pacer Advisors Inc. now owns 22,848 shares of the company’s stock worth $194,000 after buying an additional 1,529 shares during the last quarter. Advisor Group Inc. acquired a new stake in Regions Financial Corp. during the second quarter worth about $198,000. Finally, Bank of Nova Scotia boosted its stake in Regions Financial Corp. by 5.4% in the second quarter. Bank of Nova Scotia now owns 25,633 shares of the company’s stock worth $218,000 after buying an additional 1,310 shares during the last quarter. 74.26% of the stock is owned by hedge funds and other institutional investors.

RF has been the subject of a number of research reports. Jefferies Group restated a “buy” rating and set a $9.50 price objective on shares of Regions Financial Corp. in a research report on Thursday, July 7th. TheStreet upgraded Regions Financial Corp. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Evercore ISI restated a “buy” rating and set a $10.00 price objective (up from $9.00) on shares of Regions Financial Corp. in a research report on Friday, July 22nd. FBR & Co restated a “buy” rating and set a $10.50 price objective on shares of Regions Financial Corp. in a research report on Wednesday, July 20th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $9.50 price objective on shares of Regions Financial Corp. in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $10.34.

About Regions Financial Corp.

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