Kessler Investment Group LLC Takes Position in Regions Financial Corporation (RF)
Kessler Investment Group LLC bought a new position in Regions Financial Corporation (NYSE:RF) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 65,022 shares of the bank’s stock, valued at approximately $1,124,000. Regions Financial accounts for about 1.4% of Kessler Investment Group LLC’s investment portfolio, making the stock its 26th largest position.
Several other hedge funds have also modified their holdings of RF. Janus Henderson Group PLC grew its position in shares of Regions Financial by 8,065.3% during the 2nd quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock valued at $191,306,000 after acquiring an additional 12,907,276 shares during the period. Old Mutual Global Investors UK Ltd. grew its position in shares of Regions Financial by 257.2% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 9,538,317 shares of the bank’s stock valued at $145,268,000 after acquiring an additional 6,868,243 shares during the period. Samlyn Capital LLC grew its position in shares of Regions Financial by 63.0% during the 2nd quarter. Samlyn Capital LLC now owns 9,074,895 shares of the bank’s stock valued at $132,856,000 after acquiring an additional 3,506,995 shares during the period. Shapiro Capital Management LLC bought a new stake in shares of Regions Financial during the 2nd quarter valued at $47,308,000. Finally, Parametric Portfolio Associates LLC grew its position in shares of Regions Financial by 66.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,319,165 shares of the bank’s stock valued at $92,513,000 after acquiring an additional 2,517,411 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Regions Financial Corporation (NYSE RF) traded up $0.30 during trading on Thursday, reaching $18.08. 10,142,000 shares of the company traded hands, compared to its average volume of 9,572,600. The company has a market cap of $21,050.00, a P/E ratio of 19.03, a P/E/G ratio of 1.23 and a beta of 1.30. Regions Financial Corporation has a one year low of $13.00 and a one year high of $18.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.85 and a quick ratio of 0.84.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, December 7th. Regions Financial’s payout ratio is currently 37.89%.
A number of brokerages have recently issued reports on RF. Piper Jaffray Companies reissued a “hold” rating and set a $17.00 price objective on shares of Regions Financial in a research report on Tuesday. Robert W. Baird reissued a “sell” rating and set a $17.00 price objective on shares of Regions Financial in a research report on Wednesday, January 3rd. Barclays upped their target price on shares of Regions Financial from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Thursday, December 21st. Finally, UBS Group raised shares of Regions Financial from a “sell” rating to a “neutral” rating and upped their target price for the stock from $15.00 to $18.00 in a report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Regions Financial currently has a consensus rating of “Hold” and an average price target of $16.65.
In other Regions Financial news, EVP Scott M. Peters sold 25,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.84, for a total value of $396,000.00. Following the sale, the executive vice president now owns 121,459 shares in the company, valued at approximately $1,923,910.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John B. Owen sold 40,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total transaction of $626,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,000 shares of company stock worth $1,278,400. Corporate insiders own 0.52% of the company’s stock.
Regions Financial 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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