Federated Investors Inc. PA Lowers Stake in Regions Financial Corporation (RF)
Federated Investors Inc. PA cut its stake in shares of Regions Financial Corporation (NYSE:RF) by 32.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,636 shares of the bank’s stock after selling 13,988 shares during the period. Federated Investors Inc. PA’s holdings in Regions Financial Corporation were worth $434,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cadence Capital Management LLC grew its stake in shares of Regions Financial Corporation by 0.5% during the 2nd quarter. Cadence Capital Management LLC now owns 51,617 shares of the bank’s stock valued at $756,000 after buying an additional 244 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Regions Financial Corporation by 1.0% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 2,155,417 shares of the bank’s stock valued at $31,555,000 after buying an additional 21,416 shares during the period. ALGEBRIS UK Ltd purchased a new stake in shares of Regions Financial Corporation during the 2nd quarter valued at $5,602,000. BB&T Securities LLC purchased a new stake in shares of Regions Financial Corporation during the 2nd quarter valued at $177,000. Finally, Blair William & Co. IL grew its stake in shares of Regions Financial Corporation by 21.4% during the 2nd quarter. Blair William & Co. IL now owns 395,231 shares of the bank’s stock valued at $5,786,000 after buying an additional 69,765 shares during the period. 75.56% of the stock is owned by institutional investors.
In related news, Director Susan W. Matlock sold 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $15.23, for a total value of $152,300.00. Following the transaction, the director now directly owns 32,188 shares in the company, valued at approximately $490,223.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Turner, Jr. sold 65,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the sale, 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. Insiders sold a total of 124,514 shares of company stock worth $1,846,733 over the last quarter. 0.52% of the stock is currently owned by company insiders.
Regions Financial Corporation (RF) opened at 14.43 on Friday. The firm has a 50-day moving average of $14.18 and a 200-day moving average of $14.27. Regions Financial Corporation has a one year low of $9.45 and a one year high of $16.03. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 15.08 and a beta of 1.33.
Regions Financial Corporation (NYSE:RF) last posted its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business posted $0.20 EPS. Regions Financial Corporation’s revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Regions Financial Corporation will post $1.00 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.09 dividend. The ex-dividend date is Thursday, September 7th. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 2.52%. Regions Financial Corporation’s dividend payout ratio (DPR) is presently 37.89%.
Regions Financial Corporation announced that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
RF has been the subject of several research reports. BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Vining Sparks raised shares of Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 26th. Piper Jaffray Companies reissued a “hold” rating and set a $14.50 price objective on shares of Regions Financial Corporation in a research note on Thursday, August 17th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.50 price objective on shares of Regions Financial Corporation in a research note on Friday, September 15th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Regions Financial Corporation presently has a consensus rating of “Hold” and a consensus target price of $14.89.
About Regions Financial Corporation
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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