Korea Investment CORP cut its position in Regions Financial Corporation (NYSE:RF) by 74.1% during the second quarter, Holdings Channel reports. The fund owned 307,347 shares of the bank’s stock after selling 878,768 shares during the period. Korea Investment CORP’s holdings in Regions Financial Corporation were worth $4,500,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. FNY Partners Fund LP acquired a new position in Regions Financial Corporation during the first quarter worth $103,000. Bronfman E.L. Rothschild L.P. raised its position in Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock worth $104,000 after buying an additional 666 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock worth $126,000 after buying an additional 28 shares during the period. Cornerstone Wealth Management LLC acquired a new position in Regions Financial Corporation during the first quarter worth $146,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Regions Financial Corporation during the first quarter worth $148,000. Institutional investors and hedge funds own 75.40% of the company’s stock.

Shares of Regions Financial Corporation (RF) opened at 14.07 on Friday. The company has a market cap of $16.81 billion, a price-to-earnings ratio of 14.70 and a beta of 1.31. Regions Financial Corporation has a 12 month low of $9.28 and a 12 month high of $16.03. The firm has a 50-day moving average of $14.54 and a 200 day moving average of $14.47.

Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. Regions Financial Corporation’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current year.

The company also recently disclosed 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%. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s payout ratio is presently 29.47%.

Regions Financial Corporation declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback $1.47 billion in shares. This buyback authorization permits the bank to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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RF has been the topic of a number of recent research reports. Rafferty Capital Markets lowered shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research note on Thursday, April 20th. Bank of America Corporation raised shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $17.00 in a research note on Thursday, May 4th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Regions Financial Corporation in a research note on Friday, June 23rd. Argus lowered shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research note on Monday, May 1st. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.21.

In other Regions Financial Corporation news, EVP Fournier J. Gale III sold 35,825 shares of Regions Financial Corporation stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the transaction, the executive vice president now directly owns 109,318 shares of the company’s stock, valued at $1,594,949.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott M. Peters sold 13,689 shares of Regions Financial Corporation stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $14.61, for a total transaction of $199,996.29. Following the transaction, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at $2,155,384.08. The disclosure for this sale can be found here. Insiders have sold 124,514 shares of company stock valued at $1,846,733 over the last ninety days. 0.52% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Regions Financial Corporation (NYSE:RF)

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