Raymond James Trust N.A. trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,147 shares of the bank’s stock after selling 12,855 shares during the period. Raymond James Trust N.A.’s holdings in Regions Financial were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Denali Advisors LLC purchased a new stake in Regions Financial during the 1st quarter worth $29,000. Vantage Consulting Group Inc purchased a new stake in Regions Financial during the 4th quarter worth $27,000. Smith Asset Management Group LP purchased a new stake in Regions Financial during the 4th quarter worth $28,000. Annapolis Financial Services LLC purchased a new stake in Regions Financial during the 4th quarter worth $32,000. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Regions Financial during the 1st quarter worth $44,000. 71.67% of the stock is owned by hedge funds and other institutional investors.
In other Regions Financial news, EVP Ronald G. Smith sold 56,147 shares of the company’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $20.23, for a total value of $1,135,853.81. Following the completion of the transaction, the executive vice president now owns 219,667 shares in the company, valued at approximately $4,443,863.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David J. Turner, Jr. sold 88,000 shares of the company’s stock in a transaction dated Tuesday, April 27th. The stock was sold at an average price of $21.11, for a total transaction of $1,857,680.00. Following the completion of the transaction, the chief financial officer now owns 160,891 shares of the company’s stock, valued at approximately $3,396,409.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,147 shares of company stock valued at $3,245,534. 0.47% of the stock is owned by insiders.
Regions Financial (NYSE:RF) last released its quarterly earnings data on Thursday, April 22nd. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. Regions Financial had a net margin of 13.17% and a return on equity of 5.61%. During the same quarter last year, the business earned $0.14 EPS. Research analysts anticipate that Regions Financial Co. will post 0.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is 40.00%.
RF has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Regions Financial from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, May 3rd. Raymond James reissued an “outperform” rating and issued a $23.00 price objective (up from $21.00) on shares of Regions Financial in a research report on Tuesday, April 13th. Jefferies Financial Group upped their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, April 9th. Stephens upped their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. Finally, Argus upped their price objective on shares of Regions Financial from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.47.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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