Wrapmanager Inc. bought a new stake in shares of Regions Financial Corp (NYSE:RF) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,033 shares of the bank’s stock, valued at approximately $643,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Regions Financial by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,604,931 shares of the bank’s stock worth $195,420,000 after purchasing an additional 286,879 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Regions Financial by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 15,010,538 shares of the bank’s stock valued at $200,519,000 after acquiring an additional 432,350 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Regions Financial during the 1st quarter valued at $442,000. Virtu Financial LLC lifted its position in shares of Regions Financial by 197.5% during the 1st quarter. Virtu Financial LLC now owns 40,416 shares of the bank’s stock valued at $572,000 after acquiring an additional 26,831 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management lifted its position in shares of Regions Financial by 3.9% during the 1st quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 20,740 shares of the bank’s stock valued at $293,000 after acquiring an additional 775 shares during the last quarter. Institutional investors and hedge funds own 71.89% of the company’s stock.

Shares of RF traded down $0.55 during mid-day trading on Wednesday, reaching $13.72. The company’s stock had a trading volume of 555,880 shares, compared to its average volume of 12,201,321. The company has a fifty day moving average price of $15.11. The company has a market cap of $14.64 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 1.36 and a beta of 1.49. Regions Financial Corp has a 1 year low of $12.39 and a 1 year high of $19.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.89.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $0.32 earnings per share. Regions Financial’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts predict that Regions Financial Corp will post 1.54 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This is an increase from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.52%. Regions Financial’s dividend payout ratio is 41.18%.

Regions Financial declared that its board has approved a stock buyback program on Thursday, June 27th that allows the company to buyback $1.37 billion in outstanding shares. This buyback authorization allows the bank to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently commented on RF shares. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $15.00 to $17.00 in a research report on Monday, July 22nd. ValuEngine upgraded Regions Financial from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Bank of America downgraded Regions Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $16.00 in a research report on Thursday, July 11th. Raymond James cut their price objective on Regions Financial from $19.50 to $18.00 and set a “strong-buy” rating for the company in a research report on Monday, April 22nd. Finally, Morgan Stanley set a $16.00 price objective on Regions Financial and gave the company a “hold” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.33.

In other Regions Financial news, COO John B. Owen sold 40,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $14.63, for a total transaction of $585,200.00. Following the transaction, the chief operating officer now directly owns 87,152 shares of the company’s stock, valued at $1,275,033.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $14.68, for a total transaction of $104,932.64. Following the transaction, the insider now directly owns 34,482 shares in the company, valued at $506,195.76. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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