Regions Financial Corporation (NYSE: RF) stock fell -0.29% on Thursday to $17.38 against a previous-day closing price of $17.43. With 7.36 million shares changed hands, the volume of the stock remained lighter than its average volume of 13.44 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $17.59 whereas the lowest price it dropped to was $17.21. The 52-week range on RF shows that it touched its highest point at $24.33 and its lowest point at $13.94 during that stretch. It currently has a 1-year price target of $22.00. With its current market cap of 16.43 billion, RF has annualized dividend of $0.80 while the current yield stands at 4.60%. Beta for the stock currently stands at 1.21.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RF was up-trending over the past week, with a rise of 2.30%, but this was down by -1.92% over a month. Three-month performance dropped to -24.99% while six-month performance fell -23.30%. The stock lost -14.93% in the past year, while it has lost -19.39% so far this year. A look at the trailing 12-month EPS for RF yields 2.35 with Next year EPS estimates of 2.28. For the next quarter, that number is 0.61. This implies an EPS growth rate of -8.60% for this year and -3.35% for next year. EPS is expected to decline by -0.88% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 17.10%.
Float and Shares Shorts:
At present, 935.00 million RF shares are outstanding with a float of 929.75 million shares on hand for trading. On Apr 27, 2023, short shares totaled 26.43 million, which was 2.83% higher than short shares on Mar 30, 2023. In addition to Mr. John M. Turner Jr. as the firm’s Pres, CEO & Director, Mr. David Jackson Turner Jr. serves as its Sr. EVP & CFO.
Through their ownership of 78.44% of RF’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.67% of RF, in contrast to 30.87% held by mutual funds. Shares owned by individuals account for 2.11%. As the largest shareholder in RF with 11.53% of the stake, The Vanguard Group, Inc. holds 107,704,033 shares worth 107,704,033. A second-largest stockholder of RF, BlackRock Fund Advisors, holds 62,319,308 shares, controlling over 6.67% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in RF, holding 50,312,924 shares or 5.38% stake. With a 3.11% stake in RF, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 29,049,392 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.35% of RF stock, is the second-largest Mutual Fund holder. It holds 21,923,936 shares valued at 400.33 million. Vanguard Mid Cap Index Fund holds 2.33% of the stake in RF, owning 21,815,599 shares worth 398.35 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RF since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RF analysts setting a high price target of $25.00 and a low target of $20.00, the average target price over the next 12 months is $21.83. Based on these targets, RF could surge 43.84% to reach the target high and rise by 15.07% to reach the target low. Reaching the average price target will result in a growth of 25.6% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded RF stock several times over the past three months with 24 Buys and 10 Sells. In these transactions, 1,061,933 shares were bought while 443,929 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 1,061,933 while 607,908 shares were sold.