Aperio Group LLC raised its position in Regions Financial Corp. (NYSE:RF) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 803,806 shares of the company’s stock after buying an additional 30,238 shares during the period. Aperio Group LLC owned approximately 0.07% of Regions Financial Corp. worth $7,934,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of RF. AJO LP increased its position 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 during the period. Bank of Montreal Can purchased a new stake in Regions Financial Corp. during the second quarter worth $44,648,000. Basswood Capital Management L.L.C. boosted its stake in 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 purchased a new stake in Regions Financial Corp. during the second quarter worth $36,379,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Regions Financial Corp. during the second quarter worth $30,629,000. 74.72% of the stock is owned by institutional investors and hedge funds.
Shares of Regions Financial Corp. (NYSE:RF) traded up 1.14% during mid-day trading on Thursday, hitting $13.30. The stock had a trading volume of 22,008,695 shares. The company has a market cap of $16.37 billion, a PE ratio of 15.63 and a beta of 1.35. Regions Financial Corp. has a one year low of $7.00 and a one year high of $13.54. The firm’s 50 day moving average price is $11.22 and its 200-day moving average price is $9.83.
Regions Financial Corp. (NYSE:RF) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. Regions Financial Corp. had a net margin of 19.43% and a return on equity of 7.03%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Corp. will post $0.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 1.95%. The ex-dividend date is Wednesday, December 7th. Regions Financial Corp.’s payout ratio is 30.59%.
A number of equities research analysts recently weighed in on RF shares. Wedbush started coverage on Regions Financial Corp. in a report on Thursday, October 6th. They issued an “outperform” rating and a $12.00 price target on the stock. They noted that the move was a valuation call. FBR & Co cut Regions Financial Corp. from an “outperform” rating to a “market perform” rating and set a $10.50 price target on the stock. in a report on Tuesday, October 11th. Credit Suisse Group AG set a $9.50 price target on Regions Financial Corp. and gave the stock a “hold” rating in a report on Wednesday, September 14th. Keefe, Bruyette & Woods upgraded Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 price target on the stock in a report on Thursday, August 25th. Finally, Piper Jaffray Cos. cut Regions Financial Corp. from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 16th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.44.
In other news, EVP William D. Ritter sold 69,410 shares of the business’s stock in a transaction 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 directly owns 321,691 shares in the company, valued at approximately $3,451,744.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Brett D. Couch sold 32,342 shares of the business’s stock in a transaction on Thursday, October 20th. The shares were sold at an average price of $10.63, for a total transaction of $343,795.46. Following the transaction, the executive vice president now owns 251,064 shares in the company, valued at $2,668,810.32. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.
Regions Financial Corp. 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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