Regions Financial Corporation (RF) Stake Boosted by RWC Asset Management LLP
RWC Asset Management LLP lifted its position in shares of Regions Financial Corporation (NYSE:RF) by 31.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 765,481 shares of the bank’s stock after purchasing an additional 182,805 shares during the quarter. RWC Asset Management LLP owned 0.07% of Regions Financial worth $11,658,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. boosted its position in shares of Regions Financial by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after purchasing an additional 26 shares in the last quarter. IFC Holdings Incorporated FL boosted its position in shares of Regions Financial by 0.3% during the second quarter. IFC Holdings Incorporated FL now owns 20,289 shares of the bank’s stock worth $295,000 after purchasing an additional 58 shares in the last quarter. Lbmc Investment Advisors LLC boosted its position in shares of Regions Financial by 0.3% during the second quarter. Lbmc Investment Advisors LLC now owns 31,904 shares of the bank’s stock worth $467,000 after purchasing an additional 109 shares in the last quarter. Cadence Capital Management LLC boosted its position in shares of Regions Financial by 0.5% during the second quarter. Cadence Capital Management LLC now owns 51,617 shares of the bank’s stock worth $756,000 after purchasing an additional 244 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its position in shares of Regions Financial by 0.7% during the second quarter. Sentry Investment Management LLC now owns 53,166 shares of the bank’s stock worth $778,000 after purchasing an additional 345 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the stock. UBS raised shares of Regions Financial from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Tuesday. SunTrust Banks reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Regions Financial in a research report on Wednesday, November 29th. Goldman Sachs Group raised shares of Regions Financial from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, November 16th. J P Morgan Chase & Co boosted their price objective on shares of Regions Financial from $15.50 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Finally, Nomura reaffirmed a “neutral” rating and issued a $17.00 price objective (up from $16.00) on shares of Regions Financial in a research report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.88.
In other Regions Financial news, EVP John B. Owen sold 40,000 shares of Regions Financial stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total value of $626,800.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott M. Peters sold 25,000 shares of Regions Financial stock in a transaction 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 completion of the sale, the executive vice president now owns 121,459 shares in the company, valued at $1,923,910.56. The disclosure for this sale can be found here. Insiders sold a total of 80,000 shares of company stock worth $1,278,400 over the last quarter. Company insiders own 0.52% of the company’s stock.
Shares of Regions Financial Corporation (NYSE:RF) traded up $0.33 during mid-day trading on Wednesday, reaching $17.31. 10,875,699 shares of the company’s stock traded hands, compared to its average volume of 15,035,384. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.39. Regions Financial Corporation has a 12-month low of $13.00 and a 12-month high of $17.39. The firm has a market cap of $19,696.31, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.54 and a beta of 1.30.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Regions Financial 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 analyst estimates of $1.45 billion. During the same period in the previous year, the business earned $0.24 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. equities analysts expect that Regions Financial Corporation will post 0.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a $0.09 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.36 annualized dividend and a yield of 2.08%. Regions Financial’s payout ratio is currently 37.50%.
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Regions Financial 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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