BlackRock Fund Advisors recently announced the acquisition of new stake in Regions Financial Corporation (NYSE:RF). The institutional investor has increased its shareholding in the Financial company by 28.99% to 63.46 million shares with purchase of 14.26 million shares. This fresh investment now brings its stake to 6.61% valued currently at $689.21 million. In addition, SSgA Funds Management, Inc. raised its holdings by 1.93 million to 53.26 million shares. And Capital Research & Management Co.. has lifted its position by 20.78% or 6.69 million shares – to 38.91 million shares.
With over 7.31 million Regions Financial Corporation (RF) shares trading Monday and a closing price of $11.56 on the day, the dollar volume was approximately $84.54 million. The shares have shown a positive weekly performance of 0.17% and its price on 08/31/20 lost nearly -1.28%. Currently, there are 960.00M common shares owned by the public and among those 956.13M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for RF have a consensus price objective of $12.68. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $10.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Regions Financial Corporation stock is 2.30 for the next 12 months. The average price target is 8.98% above its last price level and an upside to the estimated low will see the stock lose -10.1% over that period. But an upside of 27.75% will see the stock hit the forecast high price target while mean target price for the stock is $13.00.
Insiders at the company have transacted a total of 119 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 105 of these insider trades were purchases, accounting for 625,947 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 210,967 shares.
The top 3 mutual fund holders in Regions Financial Corporation are Washington Mutual Investors Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund. Washington Mutual Investors Fund owns 28.61 million shares of the company’s stock, all valued at over $310.68 million. The company bought an additional 6.67 million shares recently to bring their total holdings to about 2.98% of the shares outstanding. Vanguard Total Stock Market Index sold 15399.0 shares to see its total holdings shrink to 27.32 million shares valued at over $296.66 million and representing 2.85% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.21 million shares to bring its total holdings to over 23.51 million shares at a value of $255.36 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.45% of the shares outstanding.
Shares of Regions Financial Corporation (NYSE: RF) opened at $11.72, up $0.01 from a prior closing price of $11.71. However, the script later closed the day at $11.56, down -1.28%. The company’s stock has a 5-day price change of 0.17% and -1.20% over the past three months. RF shares are trading -32.63% year to date (YTD), with the 12-month market performance down to -20.93% lower. It has a 12-month low price of $6.94 and touched a high of $17.54 over the same period. Currently, 7.31 million shares have been traded, compared to an average intraday trading volume of 10.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.51%, 4.64%, and -9.59% respectively.
Institutional ownership of Regions Financial Corporation (NYSE: RF) shares accounts for 77.70% of the company’s 960.00M shares outstanding. Mutual fund holders own 28.71%, while other institutional holders and individual stakeholders account for 47.60% and 2.07% respectively.
It has a market capitalization of $11.09B and a beta (3y monthly) value of 1.67. The stock’s trailing 12-month PE ratio is 17.38, while the earnings-per-share (ttm) stands at $0.67. The company has a debt-to-equity ratio at 0.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.55% over the week and 3.00% over the month.
Analysts forecast that Regions Financial Corporation (RF) will achieve an EPS of $0.3 for the current quarter, $0.31 for the next quarter and $1.21 for 2021. The lowest estimate earnings-per-share for the quarter is $0.21 while analysts give the company a high EPS estimate of $0.41. Comparatively, EPS for the current quarter was $0.39 a year ago. Earnings per share for the fiscal year are expected to increase by 13.00%, and 130.59% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Regions Financial Corporation (RF) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 12 of the 27 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the RF, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on July 31, 2020, with the firm’s price target at. Raymond James coverage for the Regions Financial Corporation (RF) stock in a research note released on June 17, 2020 offered a Outperform rating with a price target of $15. Raymond James was of a view on March 09, 2020 that the stock is Mkt Perform, while Robert W. Baird gave the stock Outperform rating on March 02, 2020, issuing a price target of $18. Odeon on their part issued Hold rating on February 03, 2020.