Regions Financial Corp (RF) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 29, 2016.
Many Wall Street Analysts have commented on Regions Financial Corp. Regions Financial Corp was Upgraded by Keefe Bruyette to ” Mkt Perform” on Jun 6, 2016. Shares were Reiterated by Compass Point on May 19, 2016 to “Buy” and Lowered the Price Target to $ 11.50 from a previous price target of $12 .Shares were Downgraded by Keefe Bruyette on May 16, 2016 to ” Underperform” and Lowered the Price Target to $ 9.50 from a previous price target of $10 .
On the company’s financial health, Regions Financial Corp reported $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 15, 2016. Analyst had a consensus of $0.19. The company had revenue of $1368.00 million for the quarter, compared to analysts expectations of $1339.58 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Regions Financial Corp closed down -0.62 points or -7.27% at $7.91 with 3,03,31,377 shares getting traded on Monday. Post opening the session at $8.37, the shares hit an intraday low of $7.86 and an intraday high of $8.37 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on May 26, 2016, Ellen S. Jones (SEVP) sold 20,000 shares at $9.61 per share price. According to the SEC, on Mar 4, 2016, Susan W Matlock (director) sold 26,000 shares at $8.10 per share price. On Dec 2, 2015, Cynthia M. Rogers (SEVP) sold 9,500 shares at $10.21 per share price, according to the Form-4 filing with the securities and exchange commission.
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank an Alabama state-chartered commercial bank which is a member of the Federal Reserve System. The Company carries out its business in three segments: Corporate Bank Consumer Bank and Wealth Management. The Corporate Bank segment represents the Companys commercial banking functions including commercial and industrial commercial real estate and investor real estate lending. The Consumer Bank segment represents the Companys branch network including consumer banking products and services related to residential first mortgages home equity lines and loans and small business loans among others. The Wealth Management segment offers individuals businesses Governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.