Redwood Investment Management LLC Buys New Holdings in Regions Financial Corp (NYSE:RF)
Redwood Investment Management LLC bought a new position in Regions Financial Corp (NYSE:RF) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 193,834 shares of the bank’s stock, valued at approximately $2,743,000. Regions Financial makes up approximately 1.2% of Redwood Investment Management LLC’s portfolio, making the stock its 25th biggest holding.
Other institutional investors also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Regions Financial by 7.0% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 21,293 shares of the bank’s stock valued at $285,000 after purchasing an additional 1,400 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Regions Financial by 32.1% during the fourth quarter. MML Investors Services LLC now owns 31,533 shares of the bank’s stock valued at $422,000 after purchasing an additional 7,659 shares in the last quarter. Country Club Trust Company n.a. lifted its holdings in shares of Regions Financial by 13.5% during the first quarter. Country Club Trust Company n.a. now owns 448,875 shares of the bank’s stock valued at $6,352,000 after purchasing an additional 53,319 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of Regions Financial by 2.3% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 48,520 shares of the bank’s stock valued at $687,000 after purchasing an additional 1,100 shares in the last quarter. Finally, American Asset Management Inc. bought a new position in shares of Regions Financial during the first quarter valued at $261,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.
Regions Financial stock opened at $14.54 on Monday. The firm has a market cap of $14.73 billion, a P/E ratio of 10.69, a PEG ratio of 1.13 and a beta of 1.51. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.90. Regions Financial Corp has a one year low of $12.39 and a one year high of $19.99.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Thursday, June 6th. Regions Financial’s payout ratio is 41.18%.
RF has been the topic of a number of research analyst reports. Nomura raised Regions Financial from a “reduce” rating to a “neutral” rating and set a $14.00 price target on the stock in a report on Friday, March 29th. Wedbush upped their price target on Regions Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, February 28th. Sandler O’Neill upgraded Regions Financial from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. UBS Group set a $17.00 price objective on Regions Financial and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, BMO Capital Markets began coverage on Regions Financial in a research report on Tuesday, March 12th. They set an “outperform” rating and a $17.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Regions Financial has an average rating of “Hold” and a consensus price target of $17.19.
In other Regions Financial news, COO John B. Owen sold 61,756 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $15.25, for a total value of $941,779.00. Following the completion of the sale, the chief operating officer now owns 127,152 shares in the company, valued at $1,939,068. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP David R. Keenan sold 30,877 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $15.50, for a total value of $478,593.50. Following the completion of the sale, the executive vice president now owns 24,321 shares of the company’s stock, valued at approximately $376,975.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,510 shares of company stock valued at $1,889,394. Company insiders own 0.28% of the company’s stock.
Regions Financial Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding 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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