Regions Financial Corp (NYSE:RF) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 12,489,000 shares, an increase of 9.2% from the May 30th total of 11,436,900 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily volume of 11,340,000 shares, the short-interest ratio is presently 1.1 days.
A number of analysts have issued reports on RF shares. ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Macquarie set a $36.00 target price on Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Bank of America set a $97.00 target price on Merck & Co., Inc. and gave the company a “buy” rating in a research report on Thursday. Nomura boosted their target price on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, March 29th. Finally, Raymond James reissued a “buy” rating on shares of West Fraser Timber in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial has an average rating of “Hold” and an average price target of $17.54.
In other Regions Financial news, EVP David R. Keenan sold 30,877 shares of Regions Financial stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $15.50, for a total value of $478,593.50. Following the sale, the executive vice president now owns 24,321 shares of the company’s stock, valued at approximately $376,975.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO John B. Owen sold 61,756 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $15.25, for a total value of $941,779.00. Following the completion of the sale, the chief operating officer now directly owns 127,152 shares in the company, valued at approximately $1,939,068. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,510 shares of company stock worth $1,889,394. 0.28% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its position in Regions Financial by 7.0% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 21,293 shares of the bank’s stock valued at $285,000 after buying an additional 1,400 shares in the last quarter. MML Investors Services LLC increased its position in Regions Financial by 32.1% during the 4th quarter. MML Investors Services LLC now owns 31,533 shares of the bank’s stock valued at $422,000 after buying an additional 7,659 shares in the last quarter. Country Club Trust Company n.a. increased its position in Regions Financial by 13.5% during the 1st quarter. Country Club Trust Company n.a. now owns 448,875 shares of the bank’s stock valued at $6,352,000 after buying an additional 53,319 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in Regions Financial by 2.3% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 48,520 shares of the bank’s stock valued at $687,000 after buying an additional 1,100 shares in the last quarter. Finally, American Asset Management Inc. acquired a new position in Regions Financial during the 1st quarter valued at about $261,000. Hedge funds and other institutional investors own 71.37% of the company’s stock.
RF traded down $0.24 during trading hours on Monday, reaching $14.98. 6,641,269 shares of the company’s stock traded hands, compared to its average volume of 12,004,145. The company’s 50-day moving average price is $14.52. Regions Financial has a 52-week low of $12.39 and a 52-week high of $19.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market capitalization of $15.42 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.68 and a beta of 1.50.
Regions Financial (NYSE:RF) last issued its earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. Regions Financial had a return on equity of 10.76% and a net margin of 26.38%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $0.35 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Sell-side analysts forecast that Regions Financial will post 1.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Thursday, June 6th. Regions Financial’s dividend payout ratio (DPR) is currently 41.18%.
Regions Financial announced that its Board of Directors has authorized a share repurchase program on Thursday, June 27th that authorizes the company to buyback $1.37 billion in shares. This buyback authorization authorizes the bank to repurchase up to 9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Regions Financial Company Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding 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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