Regions Financial Corp (RF) was Downgraded by FBR & Co. to ” Mkt Perform” and the brokerage firm has set the Price Target at $10.50. Earlier the firm had a rating of “Outperform ” on the company shares. FBR & Co. advised their investors in a research report released on Oct 11, 2016.
Many Wall Street Analysts have commented on Regions Financial Corp. Wedbush Initiated Regions Financial Corp on Oct 7, 2016 to “Outperform”, Price Target of the shares are set at $12.Regions Financial Corp was Downgraded by Bernstein to ” Mkt Perform” on Aug 16, 2016. Company shares were Reiterated by UBS on Jul 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 9.50 from a previous price target of $9 .
On the company’s financial health, Regions Financial Corp reported $0.20 EPS for the quarter, based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus estimate of $0.20. The company had revenue of $1395.00 million for the quarter, compared to analysts expectations of $1380.55 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.
Regions Financial Corp opened for trading at $10.34 and hit $10.38 on the upside on Friday, eventually ending the session at $10.33, with a gain of 0.10% or 0.01 points. The heightened volatility saw the trading volume jump to 1,51,35,900 shares. Company has a market cap of $12,966 M.
In a different news, on Aug 30, 2016, Scott M. Peters (SEVP) sold 23,391 shares at $9.73 per share price. According to the SEC, on Aug 19, 2016, Ellen S. Jones (SEVP) sold 10,000 shares at $9.53 per share price. On Aug 19, 2016, David R. Keenan (SEVP) sold 65,000 shares at $9.57 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.