Today, Kentucky Retirement Systems Takes Position in Regions Financial Corp. (RF)

Today, Kentucky Retirement Systems Takes Position in Regions Financial Corp. (RF)
Kentucky Retirement Systems purchased a new position in shares of Regions Financial Corp. (NYSE:RF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 107,719 shares of the company’s stock, valued at approximately $917,000.

Several other institutional investors also recently made changes to their positions in RF. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Regions Financial Corp. by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,215 shares of the company’s stock worth $104,000 after buying an additional 710 shares in the last quarter. Kanaly Trust Co raised its position in shares of Regions Financial Corp. by 9.6% in the second quarter. Kanaly Trust Co now owns 13,044 shares of the company’s stock worth $111,000 after buying an additional 1,145 shares in the last quarter. Wesbanco Bank Inc. raised its position in shares of Regions Financial Corp. by 14.2% in the second quarter. Wesbanco Bank Inc. now owns 13,329 shares of the company’s stock worth $114,000 after buying an additional 1,662 shares in the last quarter. Paradigm Financial Advisors LLC purchased a new position in shares of Regions Financial Corp. during the second quarter worth approximately $119,000. Finally, Woodmont Investment Counsel LLC raised its position in shares of Regions Financial Corp. by 3.1% in the second quarter. Woodmont Investment Counsel LLC now owns 14,144 shares of the company’s stock worth $120,000 after buying an additional 426 shares in the last quarter. Institutional investors own 74.72% of the company’s stock.

Regions Financial Corp. (NYSE:RF) traded up 0.45% on Friday, reaching $13.36. 7,301,040 shares of the company traded hands. The firm has a 50 day moving average of $11.34 and a 200-day moving average of $9.86. Regions Financial Corp. has a one year low of $7.00 and a one year high of $13.54. The stock has a market capitalization of $16.45 billion, a PE ratio of 15.70 and a beta of 1.35.

Regions Financial Corp. (NYSE:RF) last released its quarterly earnings data on Tuesday, October 18th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Regions Financial Corp. had a return on equity of 7.03% and a net margin of 19.43%. The company earned $1.46 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that Regions Financial Corp. will post $0.87 EPS for the current year.

The company also recently announced 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 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, December 7th. Regions Financial Corp.’s dividend payout ratio is presently 30.59%.

Several equities research analysts have recently weighed in on RF shares. 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. FBR & Co raised shares of Regions Financial Corp. from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $10.50 to $15.00 in a research report on Monday, November 14th. Sandler O’Neill downgraded shares of Regions Financial Corp. from a “buy” rating to a “hold” rating and set a $11.50 price objective for the company. in a research report on Tuesday, November 8th. Barclays PLC reaffirmed a “sell” rating and set a $10.00 price objective on shares of Regions Financial Corp. in a research report on Tuesday, October 11th. Finally, Wedbush started coverage on shares of Regions Financial Corp. in a research report on Thursday, October 6th. They issued an “outperform” rating and a $12.00 target price for the company. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Regions Financial Corp. has a consensus rating of “Hold” and a consensus target price of $10.44.

In other Regions Financial Corp. news, EVP William D. Ritter sold 69,410 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William E. Horton sold 12,000 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $13.17, for a total value of $158,040.00. Following the transaction, 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. 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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