Bancorpsouth Inc. Has $868,000 Position in Regions Financial Corporation (RF)
Bancorpsouth Inc. continued to hold its position in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,267 shares of the bank’s stock at the close of the second quarter. Bancorpsouth Inc.’s holdings in Regions Financial Corporation were worth $868,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new stake in Regions Financial Corporation during the 1st quarter valued at $103,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Regions Financial Corporation by 10.2% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock valued at $104,000 after purchasing an additional 666 shares during the last quarter. Lloyds Banking Group plc acquired a new stake in Regions Financial Corporation during the 2nd quarter valued at $108,000. Seven Eight Capital LP acquired a new stake in Regions Financial Corporation during the 2nd quarter valued at $111,000. Finally, Captrust Financial Advisors acquired a new stake in Regions Financial Corporation during the 2nd quarter valued at $139,000. 75.56% of the stock is owned by institutional investors and hedge funds.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. Regions Financial Corporation’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.20 EPS.
Regions Financial Corporation declared that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.50%. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio (DPR) is currently 37.89%.
In related news, EVP Fournier J. Gale III sold 35,825 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction of $522,686.75. Following the transaction, the executive vice president now directly owns 109,318 shares in the company, valued at approximately $1,594,949.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David J. Turner, Jr. sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $14.95, for a total value of $971,750.00. Following the transaction, the chief financial officer now owns 121,160 shares in the company, valued at $1,811,342. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,514 shares of company stock worth $1,846,733. 0.52% of the stock is currently owned by insiders.
Several equities research analysts have issued reports on RF shares. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Vining Sparks raised Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Piper Jaffray Companies reissued a “hold” rating and set a $14.50 target price on shares of Regions Financial Corporation in a report on Thursday, August 17th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.50 target price on shares of Regions Financial Corporation in a report on Friday, September 15th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $15.00 target price on shares of Regions Financial Corporation in a report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.89.
Regions Financial Corporation 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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