Arizona State Retirement System decreased its position in shares of Regions Financial Corp. (NYSE:RF) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 309,099 shares of the company’s stock after selling 1,600 shares during the period. Arizona State Retirement System’s holdings in Regions Financial Corp. were worth $3,051,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. AJO LP increased its stake in shares of Regions Financial Corp. by 665.8% in the second quarter. AJO LP now owns 12,532,352 shares of the company’s stock worth $106,650,000 after buying an additional 10,895,919 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Regions Financial Corp. during the second quarter worth $44,648,000. Basswood Capital Management L.L.C. increased its stake in shares of Regions Financial Corp. by 70.7% in the second quarter. Basswood Capital Management L.L.C. now owns 11,942,752 shares of the company’s stock worth $101,633,000 after buying an additional 4,944,933 shares in the last quarter. Systematic Financial Management LP acquired a new stake in shares of Regions Financial Corp. during the second quarter worth $36,379,000. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Regions Financial Corp. during the second quarter worth $30,629,000. 74.72% of the stock is owned by institutional investors and hedge funds.
Regions Financial Corp. (NYSE:RF) traded up 1.14% during midday trading on Thursday, reaching $13.30. 22,008,695 shares of the company’s stock were exchanged. Regions Financial Corp. has a 1-year low of $7.00 and a 1-year high of $13.54. The firm’s 50-day moving average is $11.22 and its 200 day moving average is $9.83. The stock has a market cap of $16.37 billion, a P/E ratio of 15.63 and a beta of 1.35.
Regions Financial Corp. (NYSE:RF) last posted its quarterly earnings results on Tuesday, October 18th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The business earned $1.46 billion during the quarter, compared to the consensus estimate of $1.38 billion. Regions Financial Corp. had a net margin of 19.43% and a return on equity of 7.03%. Regions Financial Corp.’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. Equities analysts anticipate that Regions Financial Corp. will post $0.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Wednesday, December 7th. Regions Financial Corp.’s dividend payout ratio (DPR) is 30.59%.
RF has been the subject of a number of recent research reports. Piper Jaffray Cos. downgraded shares of Regions Financial Corp. from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 16th. Sanford C. Bernstein lowered shares of Regions Financial Corp. from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $9.56 to $9.50 in a research note on Tuesday, August 16th. They noted that the move was a valuation call. Barclays PLC restated a “sell” rating and issued a $10.00 price target on shares of Regions Financial Corp. in a research note on Tuesday, October 11th. Credit Suisse Group AG set a $9.50 price target on shares of Regions Financial Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. Finally, Raymond James Financial Inc. lowered shares of Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 price target on the stock. in a research note on Thursday, October 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $10.44.
In related news, EVP William E. Horton sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the transaction, the executive vice president now owns 81,434 shares in the company, valued at $1,057,827.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William D. Ritter sold 69,410 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $10.73, for a total transaction of $744,769.30. Following the transaction, the executive vice president now owns 321,691 shares of the company’s stock, valued at approximately $3,451,744.43. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
About Regions Financial Corp.
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.