Regions Financial Corporation (NYSE:RF) Shares Bought by Sei Investments Co.
Sei Investments Co. boosted its stake in Regions Financial Corporation (NYSE:RF) by 148.6% during the second quarter, Holdings Channel reports. The fund owned 663,828 shares of the bank’s stock after buying an additional 396,822 shares during the period. Sei Investments Co.’s holdings in Regions Financial Corporation were worth $9,719,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RF. BlackRock Inc. boosted its position in Regions Financial Corporation by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after buying an additional 89,604,919 shares during the last quarter. Janus Capital Management LLC boosted its position in Regions Financial Corporation by 733.1% in the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock valued at $146,296,000 after buying an additional 8,859,912 shares during the last quarter. Boston Partners purchased a new position in Regions Financial Corporation during the first quarter valued at $77,921,000. First Trust Advisors LP boosted its position in Regions Financial Corporation by 250.9% in the first quarter. First Trust Advisors LP now owns 6,968,932 shares of the bank’s stock valued at $101,259,000 after buying an additional 4,982,921 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Regions Financial Corporation during the first quarter valued at $56,133,000. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Regions Financial Corporation (RF) opened at 14.30 on Friday. The stock’s 50 day moving average is $14.53 and its 200 day moving average is $14.47. Regions Financial Corporation has a 52 week low of $9.14 and a 52 week high of $16.03. The company has a market capitalization of $17.09 billion, a P/E ratio of 14.94 and a beta of 1.31.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the company posted $0.20 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current year.
Regions Financial Corporation declared that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $1.47 billion in shares. This buyback authorization permits the bank to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The firm 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 $0.09 dividend. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio (DPR) is presently 29.47%.
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Several research analysts have recently weighed in on RF shares. Rafferty Capital Markets cut shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Thursday, April 20th. Bank of America Corporation raised shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $17.00 in a report on Thursday, May 4th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price target on shares of Regions Financial Corporation in a report on Friday, June 23rd. Argus cut shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Monday, May 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Regions Financial Corporation presently has a consensus rating of “Hold” and a consensus price target of $14.21.
In related news, Director Susan W. Matlock sold 10,000 shares of Regions Financial Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $15.23, for a total transaction of $152,300.00. Following the completion of the transaction, the director now directly owns 32,188 shares of the company’s stock, valued at approximately $490,223.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of Regions Financial Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the transaction, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at $1,811,342. The disclosure for this sale can be found here. Insiders sold a total of 124,514 shares of company stock valued at $1,846,733 over the last three months. Corporate insiders own 0.52% of the company’s stock.
Regions Financial Corporation 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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