Boston, MA 10/30/2013 (wallstreetpr) – Regions Financial Corporation (NYSE:RF) has its price target chopped to $10.50 by analysts at Keefe, Bruyette & Woods in the latest reduction on the company’s stock since its southward drift. The rating agency previously assigned the stock $11 in price target. At least 25 equities analysts have recently commented on Regions stock. These include Goldman Sachs Group with a buy rating, BMO Capital Markets with outperform rating and price objective of $12 from $13 in the previous report. Finally, Sandler O’Neill cut its price objective on Regions to $11, but maintained its buy rating. So far, one analyst has a sell on the stock, another one has a strong-buy, seven have hold and 16 analysts have a buy rating on the stock. As such Regions presently ha a consensus buy and $9.88 in average price target.
The financial holding company last reported its earnings on October 22, posting $0.20 earning per share for Q3.13, missing the consensus target of $0.21 per share earnings. In Q3.12, Regions realized $0.22 per share earning. Analysts are now betting on the stock to turn $0.82 EPS in the full-year 2013. On the revenue side, Regions earned $1.32 billion in the quarter, matching the consensus estimate of $1.32 billion. The financial institution’s revenue went up by 2.3% year over year.
Regions recently announced dividend earning of $0.03 a share, which translates into $0.12 in annualized dividend and 1.26% in dividend yield. The payment date for this quarterly dividend is January 2’14, and it captures investors of record December 13. Regions subsequently declared December 11, the ex-dividend date.
Regions Financial is a well established company with a wide network of interests and services in the financial sector. It offers full banking and financial services to individuals, corporations and local governments. It has more than 2000 ATMs and 1,726 bank offices across the U.S.
