Regions Financial Corp (NYSE:RF) has been assigned a consensus recommendation of “Hold” from the twenty-four ratings firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $17.71.
Several research firms recently issued reports on RF. ValuEngine upgraded Regions Financial from a “hold” rating to a “buy” rating in a research report on Monday, April 23rd. Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of Regions Financial in a research report on Sunday, April 22nd. Finally, B. Riley increased their target price on Regions Financial from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 24th.
RF traded down $0.27 during midday trading on Friday, reaching $18.62. The company had a trading volume of 12,832,042 shares, compared to its average volume of 11,066,186. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.53. The stock has a market cap of $21.19 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 0.96 and a beta of 1.23. Regions Financial has a 1 year low of $13.02 and a 1 year high of $20.21.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, June 7th. Regions Financial’s dividend payout ratio is presently 36.00%.
In other Regions Financial news, EVP William E. Horton sold 18,254 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $19.08, for a total transaction of $348,286.32. Following the completion of the transaction, the executive vice president now owns 51,463 shares in the company, valued at approximately $981,914.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Turner, Jr. sold 46,374 shares of the firm’s stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $19.34, for a total value of $896,873.16. The disclosure for this sale can be found here. Insiders have sold a total of 518,290 shares of company stock valued at $9,879,551 in the last 90 days. 0.84% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP bought a new stake in shares of Regions Financial in the 4th quarter valued at approximately $568,000. Victory Capital Management Inc. lifted its stake in shares of Regions Financial by 9.6% in the 4th quarter. Victory Capital Management Inc. now owns 141,437 shares of the bank’s stock valued at $2,444,000 after purchasing an additional 12,435 shares during the last quarter. US Bancorp DE lifted its stake in shares of Regions Financial by 5.7% in the 4th quarter. US Bancorp DE now owns 320,833 shares of the bank’s stock valued at $5,544,000 after purchasing an additional 17,297 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Regions Financial by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 141,074 shares of the bank’s stock valued at $2,438,000 after purchasing an additional 4,310 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Regions Financial by 2.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 228,820 shares of the bank’s stock valued at $3,954,000 after purchasing an additional 6,070 shares during the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.
Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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