Regions Financial Corporation (RF) Stake Boosted by ING Groep NV
ING Groep NV lifted its stake in shares of Regions Financial Corporation (NYSE:RF) by 67.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,280 shares of the bank’s stock after buying an additional 41,762 shares during the quarter. ING Groep NV’s holdings in Regions Financial Corporation were worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lloyds Banking Group plc purchased a new position in shares of Regions Financial Corporation during the second quarter valued at about $108,000. Seven Eight Capital LP purchased a new position in shares of Regions Financial Corporation during the second quarter valued at about $111,000. Sun Life Financial INC increased its position in shares of Regions Financial Corporation by 98,133.3% during the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after buying an additional 8,832 shares during the period. Salem Investment Counselors Inc. increased its position in shares of Regions Financial Corporation by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after buying an additional 26 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of Regions Financial Corporation during the second quarter valued at about $139,000. Institutional investors own 77.39% of the company’s stock.
In other news, EVP Scott M. Peters sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $15.84, for a total transaction of $396,000.00. Following the sale, the executive vice president now owns 121,459 shares in the company, valued at $1,923,910.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John B. Owen sold 40,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total transaction of $626,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Regions Financial Corporation (NYSE RF) traded up $0.01 during trading hours on Friday, hitting $15.57. 3,487,115 shares of the stock were exchanged, compared to its average volume of 12,196,112. Regions Financial Corporation has a 1 year low of $13.00 and a 1 year high of $16.03. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $18,049.15, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.41 and a beta of 1.29.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. Regions Financial Corporation had a net margin of 20.14% and a return on equity of 7.56%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. sell-side analysts forecast that Regions Financial Corporation will post 0.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, December 7th. Regions Financial Corporation’s payout ratio is 37.50%.
Several equities analysts recently issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a research report on Friday, August 11th. Piper Jaffray Companies reiterated a “hold” rating and set a $14.50 price target on shares of Regions Financial Corporation in a research report on Thursday, August 17th. Wells Fargo & Company assumed coverage on shares of Regions Financial Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $16.00 price objective on the stock. BidaskClub cut shares of Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.50 price objective on shares of Regions Financial Corporation in a report on Wednesday, August 16th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.31.
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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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