Macquarie Group Ltd. Has $916,000 Stake in Regions Financial Corporation (RF)
Macquarie Group Ltd. lifted its stake in Regions Financial Corporation (NYSE:RF) by 17.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,142 shares of the bank’s stock after buying an additional 8,900 shares during the period. Macquarie Group Ltd.’s holdings in Regions Financial were worth $916,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lloyds Banking Group plc purchased a new position in shares of Regions Financial in the second quarter worth about $108,000. Seven Eight Capital LP purchased a new position in shares of Regions Financial in the second quarter worth about $111,000. Sun Life Financial INC increased its holdings in shares of Regions Financial by 98,133.3% in the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after buying an additional 8,832 shares during the period. Salem Investment Counselors Inc. increased its holdings in shares of Regions Financial by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after buying an additional 26 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of Regions Financial in the second quarter worth about $139,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.
Regions Financial Corporation (NYSE:RF) traded up $0.11 during mid-day trading on Monday, hitting $17.08. The company’s stock had a trading volume of 8,342,800 shares, compared to its average volume of 15,083,407. Regions Financial Corporation has a 1 year low of $13.00 and a 1 year high of $17.17. 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 stock has a market cap of $19,810.00, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30.
Regions Financial (NYSE:RF) last posted its earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. research analysts forecast that Regions Financial Corporation will post 0.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.11%. Regions Financial’s dividend payout ratio (DPR) is 37.89%.
In other news, EVP John B. Owen sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total value of $626,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total value of $255,600.00. Following the completion of the sale, the director now directly owns 59,436 shares in the company, valued at $1,012,789.44. The disclosure for this sale can be found here. Insiders have sold a total of 80,000 shares of company stock worth $1,278,400 in the last quarter. Company insiders own 0.52% of the company’s stock.
A number of brokerages recently issued reports on RF. Robert W. Baird downgraded Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a report on Monday, October 2nd. FBR & Co restated a “hold” rating and set a $16.00 price target on shares of Regions Financial in a report on Wednesday, October 25th. Keefe, Bruyette & Woods restated a “hold” rating and set a $15.50 price target on shares of Regions Financial in a report on Friday, September 15th. Piper Jaffray Companies restated a “hold” rating and set a $14.50 price target on shares of Regions Financial in a report on Thursday, August 17th. Finally, SunTrust Banks restated a “buy” rating and set a $19.00 price target on shares of Regions Financial in a report on Wednesday, November 29th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.63.
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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