Regions Financial Corp (RF) Position Lifted by Twin Tree Management LP
Twin Tree Management LP increased its holdings in Regions Financial Corp (NYSE:RF) by 73.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,993 shares of the bank’s stock after acquiring an additional 26,648 shares during the quarter. Twin Tree Management LP’s holdings in Regions Financial were worth $1,120,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Regions Financial by 4.4% during the second quarter. Arizona State Retirement System now owns 902,439 shares of the bank’s stock valued at $16,045,000 after buying an additional 38,329 shares in the last quarter. Convergence Investment Partners LLC raised its stake in Regions Financial by 103.6% during the second quarter. Convergence Investment Partners LLC now owns 198,415 shares of the bank’s stock valued at $3,528,000 after buying an additional 100,943 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Regions Financial during the second quarter valued at approximately $6,268,000. Strs Ohio raised its stake in Regions Financial by 6.5% during the second quarter. Strs Ohio now owns 686,041 shares of the bank’s stock valued at $12,197,000 after buying an additional 41,858 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Regions Financial by 19.0% during the second quarter. Toronto Dominion Bank now owns 722,920 shares of the bank’s stock valued at $12,851,000 after buying an additional 115,239 shares in the last quarter. Institutional investors and hedge funds own 74.68% of the company’s stock.
In related news, EVP C. Keith Herron sold 23,186 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $18.76, for a total value of $434,969.36. Following the completion of the transaction, the executive vice president now directly owns 204,537 shares of the company’s stock, valued at approximately $3,837,114.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan W. Matlock sold 24,000 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $18.50, for a total value of $444,000.00. Following the completion of the transaction, the director now directly owns 14,914 shares of the company’s stock, valued at $275,909. The disclosure for this sale can be found here. Insiders sold a total of 85,440 shares of company stock valued at $1,610,256 over the last three months. Corporate insiders own 0.84% of the company’s stock.
NYSE:RF opened at $19.49 on Friday. The company has a market cap of $21.09 billion, a PE ratio of 19.49, a P/E/G ratio of 1.00 and a beta of 1.28. Regions Financial Corp has a 52 week low of $13.02 and a 52 week high of $20.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.88 and a quick ratio of 0.87.
Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 20th. The bank reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. equities research analysts anticipate that Regions Financial Corp will post 1.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.87%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, September 6th. Regions Financial’s dividend payout ratio is 36.00%.
Regions Financial Company Profile
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other specialty financing.
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