Regions Financial (NYSE:RF) Earns Overweight Rating from Analysts at Cantor Fitzgerald

by · The Cerbat Gem

Cantor Fitzgerald assumed coverage on shares of Regions Financial (NYSE:RF – Free Report) in a research report released on Wednesday, MarketBeat reports. The firm issued an overweight rating and a $30.00 price target on the bank’s stock.

Several other brokerages have also recently weighed in on RF. Jefferies Financial Group assumed coverage on shares of Regions Financial in a research report on Wednesday, May 21st. They issued a “hold” rating and a $24.00 price target for the company. Cowen started coverage on shares of Regions Financial in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Citigroup boosted their price target on Regions Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, DA Davidson upped their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.47.

Check Out Our Latest Analysis on RF

Regions Financial Price Performance

Shares of RF stock opened at $27.19 on Wednesday. The stock has a market capitalization of $24.26 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.55 and a beta of 1.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial has a twelve month low of $17.74 and a twelve month high of $27.96. The stock has a fifty day simple moving average of $25.91 and a two-hundred day simple moving average of $23.00.

Regions Financial (NYSE:RF – Get Free Report) last released its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts predict that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s payout ratio is 49.30%.

Insider Buying and Selling at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the transaction, the executive vice president directly owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Roger W. Jenkins purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the purchase, the director owned 6,383 shares of the company’s stock, valued at $162,638.84. The trade was a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. American National Bank & Trust lifted its stake in shares of Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares during the period. CVA Family Office LLC increased its position in shares of Regions Financial by 163.2% in the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after acquiring an additional 656 shares during the period. Darwin Wealth Management LLC purchased a new position in Regions Financial in the 2nd quarter worth $25,000. Bayforest Capital Ltd lifted its position in Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after acquiring an additional 1,058 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in Regions Financial during the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Company Profile

(Get Free Report)

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.

Recommended Stories