Regions Financial (NYSE:RF) Lowered to Outperform at Raymond James

Raymond James cut shares of Regions Financial (NYSE:RF) from a strong-buy rating to an outperform rating in a research note released on Wednesday morning, The Fly reports. Raymond James currently has $23.00 price target on the bank’s stock, up from their prior price target of $21.00.

Other equities analysts have also issued reports about the company. Wedbush lowered Regions Financial from an outperform rating to a neutral rating in a report on Wednesday, January 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Regions Financial from $19.00 to $22.00 and gave the stock a hold rating in a report on Thursday, April 1st. Barclays lifted their price target on shares of Regions Financial from $18.00 to $22.00 and gave the company an underweight rating in a research report on Wednesday. Morgan Stanley upped their price objective on shares of Regions Financial from $23.00 to $24.00 and gave the stock an overweight rating in a report on Monday, March 8th. Finally, Stephens lifted their target price on shares of Regions Financial from $23.00 to $25.00 and gave the stock an overweight rating in a report on Tuesday, March 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. Regions Financial has an average rating of Buy and an average target price of $17.75.

Shares of NYSE RF opened at $21.12 on Wednesday. The business has a 50 day simple moving average of $20.93 and a 200 day simple moving average of $16.72. Regions Financial has a 52 week low of $8.41 and a 52 week high of $22.61. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.53 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 22nd. The bank reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.20. Regions Financial had a net margin of 13.17% and a return on equity of 5.61%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.55 billion. On average, analysts predict that Regions Financial will post 0.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Friday, March 5th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, March 4th. Regions Financial’s dividend payout ratio (DPR) is presently 40.00%.

In other Regions Financial news, COO John B. Owen sold 75,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, January 26th. The stock was sold at an average price of $17.73, for a total transaction of $1,329,750.00. Following the sale, the chief operating officer now directly owns 70,187 shares of the company’s stock, valued at $1,244,415.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald G. Smith sold 56,147 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $20.23, for a total value of $1,135,853.81. Following the completion of the sale, the executive vice president now owns 219,667 shares in the company, valued at $4,443,863.41. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in RF. JPMorgan Chase & Co. increased its holdings in shares of Regions Financial by 49.7% during the fourth quarter. JPMorgan Chase & Co. now owns 33,822,024 shares of the bank’s stock worth $545,211,000 after buying an additional 11,228,412 shares in the last quarter. Norges Bank bought a new stake in Regions Financial during the 4th quarter worth approximately $178,574,000. Principal Financial Group Inc. increased its holdings in Regions Financial by 594.9% during the 4th quarter. Principal Financial Group Inc. now owns 12,163,730 shares of the bank’s stock valued at $196,080,000 after purchasing an additional 10,413,412 shares in the last quarter. KBC Group NV increased its holdings in Regions Financial by 1,202.8% during the 4th quarter. KBC Group NV now owns 3,848,835 shares of the bank’s stock valued at $62,043,000 after purchasing an additional 3,553,401 shares in the last quarter. Finally, Morgan Stanley raised its position in Regions Financial by 80.3% in the 4th quarter. Morgan Stanley now owns 6,127,019 shares of the bank’s stock valued at $98,768,000 after purchasing an additional 2,727,960 shares during the last quarter. Hedge funds and other institutional investors own 71.67% of the company’s stock.

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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Analyst Recommendations for Regions Financial (NYSE:RF)

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