Advisor Partners LLC Raises Stake in Regions Financial Corporation (NYSE:RF)
Advisor Partners LLC boosted its position in Regions Financial Corporation (NYSE:RF) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,041 shares of the bank’s stock after buying an additional 59 shares during the period. Advisor Partners LLC’s holdings in Regions Financial Corporation were worth $293,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of RF. IFC Holdings Incorporated FL increased its position in shares of Regions Financial Corporation by 18.2% in the first quarter. IFC Holdings Incorporated FL now owns 20,231 shares of the bank’s stock valued at $295,000 after buying an additional 3,122 shares during the last quarter. Guardian Investment Management bought a new position in shares of Regions Financial Corporation during the first quarter valued at $280,000. James Investment Research Inc. increased its position in shares of Regions Financial Corporation by 30.2% in the first quarter. James Investment Research Inc. now owns 524,279 shares of the bank’s stock valued at $7,618,000 after buying an additional 121,563 shares during the last quarter. Diversified Trust Co increased its position in shares of Regions Financial Corporation by 85.8% in the first quarter. Diversified Trust Co now owns 38,750 shares of the bank’s stock valued at $563,000 after buying an additional 17,889 shares during the last quarter. Finally, Covenant Asset Management LLC bought a new position in shares of Regions Financial Corporation during the first quarter valued at $1,620,000. Institutional investors and hedge funds own 75.40% of the company’s stock.
Regions Financial Corporation (NYSE:RF) opened at 14.07 on Friday. The stock has a market capitalization of $16.81 billion, a PE ratio of 14.70 and a beta of 1.31. The firm has a 50-day moving average price of $14.54 and a 200 day moving average price of $14.47. Regions Financial Corporation has a 12 month low of $9.28 and a 12 month high of $16.03.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts anticipate that Regions Financial Corporation will post $1.00 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, September 7th. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is presently 29.47%.
Regions Financial Corporation announced that its board has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $1.47 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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Several equities analysts have recently weighed in on the company. UBS AG restated a “sell” rating and set a $13.00 price target (down from $14.00) on shares of Regions Financial Corporation in a report on Saturday, April 22nd. Jefferies Group LLC restated a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a report on Friday. BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Wells Fargo & Company assumed coverage on Regions Financial Corporation in a report on Wednesday. They set a “market perform” rating and a $16.00 price target for the company. Finally, Vining Sparks upgraded Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.21.
In other Regions Financial Corporation news, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the sale, the chief financial officer now owns 121,160 shares in the company, valued at approximately $1,811,342. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $15.23, for a total value of $152,300.00. Following the sale, the director now owns 32,188 shares in the company, valued at approximately $490,223.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,514 shares of company stock worth $1,846,733. Company insiders own 0.52% of the company’s stock.
Regions Financial Corporation Company Profile
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. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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