Regions Financial Corporation (RF) Holdings Cut by Bessemer Group Inc.
Bessemer Group Inc. decreased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 92.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,753 shares of the bank’s stock after selling 114,430 shares during the quarter. Bessemer Group Inc.’s holdings in Regions Financial Corporation were worth $134,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of RF. Eqis Capital Management Inc. increased its stake in Regions Financial Corporation by 23.2% during the second quarter. Eqis Capital Management Inc. now owns 14,269 shares of the bank’s stock worth $209,000 after acquiring an additional 2,689 shares during the last quarter. LS Investment Advisors LLC grew its stake in shares of Regions Financial Corporation by 3.6% in the second quarter. LS Investment Advisors LLC now owns 53,518 shares of the bank’s stock valued at $784,000 after buying an additional 1,837 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Regions Financial Corporation by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 74,600 shares of the bank’s stock valued at $1,092,000 after buying an additional 500 shares in the last quarter. US Bancorp DE grew its stake in shares of Regions Financial Corporation by 35.3% in the second quarter. US Bancorp DE now owns 314,506 shares of the bank’s stock valued at $4,605,000 after buying an additional 82,040 shares in the last quarter. Finally, BB&T Corp grew its stake in shares of Regions Financial Corporation by 7.4% in the second quarter. BB&T Corp now owns 29,066 shares of the bank’s stock valued at $426,000 after buying an additional 2,007 shares in the last quarter. 77.39% of the stock is owned by institutional investors.
RF has been the subject of a number of recent research reports. Goldman Sachs Group, Inc. (The) upgraded Regions Financial Corporation from a “buy” rating to a “conviction-buy” rating in a report on Thursday, November 16th. Royal Bank Of Canada reiterated a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a report on Wednesday, October 25th. Nomura reiterated a “neutral” rating and issued a $17.00 target price (up from $16.00) on shares of Regions Financial Corporation in a report on Thursday, October 26th. J P Morgan Chase & Co lifted their target price on Regions Financial Corporation from $15.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Finally, FBR & Co reiterated a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $15.31.
In related news, EVP John B. Owen sold 40,000 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott M. Peters sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total value of $396,000.00. Following the completion of the sale, the executive vice president now owns 121,459 shares in the company, valued at approximately $1,923,910.56. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Regions Financial Corporation (RF) opened at $15.86 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.84 and a current ratio of 0.85. Regions Financial Corporation has a 52-week low of $12.98 and a 52-week high of $16.03. The stock has a market capitalization of $18,400.00, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial Corporation had a return on equity of 7.56% and a net margin of 20.14%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. sell-side analysts forecast that Regions Financial Corporation will post 0.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, December 7th. Regions Financial Corporation’s dividend payout ratio is currently 37.89%.
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Regions Financial Corporation 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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