Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Regions Financial Corp. (NYSE:RF) during the second quarter, Holdings Channel reports. The institutional investor acquired 51,146 shares of the company’s stock, valued at approximately $435,000.
Other institutional investors have also modified their holdings of the company. New York State Teachers Retirement System increased its stake in Regions Financial Corp. by 7.3% in the second quarter. New York State Teachers Retirement System now owns 2,871,651 shares of the company’s stock worth $24,438,000 after buying an additional 194,415 shares during the period. Standard Life Investments LTD increased its stake in Regions Financial Corp. by 0.8% in the second quarter. Standard Life Investments LTD now owns 7,954,522 shares of the company’s stock worth $67,653,000 after buying an additional 66,345 shares during the period. Paradigm Financial Advisors LLC purchased a new stake in Regions Financial Corp. during the second quarter worth $119,000. Savant Capital LLC increased its stake in Regions Financial Corp. by 18.3% in the second quarter. Savant Capital LLC now owns 14,227 shares of the company’s stock worth $121,000 after buying an additional 2,200 shares during the period. Finally, First Midwest Bank Trust Division purchased a new stake in Regions Financial Corp. during the second quarter worth $135,000. Institutional investors and hedge funds own 74.72% of the company’s stock.
Shares of Regions Financial Corp. (NYSE:RF) traded up 0.45% on Friday, hitting $13.36. 7,301,040 shares of the stock were exchanged. The firm has a market capitalization of $16.45 billion, a PE ratio of 15.70 and a beta of 1.35. The company has a 50-day moving average price of $11.34 and a 200-day moving average price of $9.86. Regions Financial Corp. has a one year low of $7.00 and a one year high of $13.54.
Regions Financial Corp. (NYSE:RF) last issued its quarterly earnings data on Tuesday, October 18th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $0.18 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that Regions Financial Corp. will post $0.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.95%. Regions Financial Corp.’s payout ratio is 30.59%.
RF has been the subject of a number of research analyst reports. TheStreet upgraded Regions Financial Corp. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Sanford C. Bernstein cut 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 report on Tuesday, August 16th. They noted that the move was a valuation call. Keefe, Bruyette & Woods raised 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. Raymond James Financial Inc. raised Regions Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $11.50 price target on the stock in a report on Thursday, August 25th. Finally, Credit Suisse Group AG set a $9.50 price target on Regions Financial Corp. and gave the company a “hold” rating in a report on Wednesday, September 14th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial Corp. has a consensus rating of “Hold” and a consensus price target of $10.44.
In other Regions Financial Corp. news, EVP William E. Horton sold 50,000 shares of Regions Financial Corp. stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $12.99, for a total value of $649,500.00. Following the sale, the executive vice president now directly owns 81,434 shares in the company, valued at approximately $1,057,827.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William E. Horton sold 12,000 shares of Regions Financial Corp. stock in a transaction on Monday, November 21st. The shares were sold at an average price of $13.17, for a total transaction of $158,040.00. Following the completion of the sale, the executive vice president now owns 19,434 shares in the company, valued at $255,945.78. The disclosure for this sale can be found here. Corporate 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.