Fisher Asset Management LLC decreased its position in shares of Regions Financial Corp. (NYSE:RF) by 20.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 974,512 shares of the company’s stock after selling 246,645 shares during the period. Fisher Asset Management LLC’s holdings in Regions Financial Corp. were worth $9,618,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its stake in Regions Financial Corp. by 7.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 288,620 shares of the company’s stock worth $2,849,000 after buying an additional 20,120 shares during the last quarter. Foundry Partners LLC increased its stake in Regions Financial Corp. by 9.4% in the third quarter. Foundry Partners LLC now owns 364,885 shares of the company’s stock worth $3,601,000 after buying an additional 31,300 shares during the last quarter. Copper Rock Capital Partners LLC increased its stake in Regions Financial Corp. by 11.6% in the third quarter. Copper Rock Capital Partners LLC now owns 48,190 shares of the company’s stock worth $466,000 after buying an additional 5,024 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Regions Financial Corp. during the second quarter worth about $435,000. Finally, Kentucky Retirement Systems bought a new stake in Regions Financial Corp. during the second quarter worth about $917,000. Institutional investors own 74.72% of the company’s stock.
Shares of Regions Financial Corp. (NYSE:RF) traded up 0.45% during midday trading on Friday, hitting $13.36. 7,301,040 shares of the company were exchanged. The stock has a market cap of $16.45 billion, a PE ratio of 15.70 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 stock’s 50-day moving average is $11.34 and its 200-day moving average is $9.86.
Regions Financial Corp. (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $0.24 earnings per share for the quarter, beating 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 firm earned $1.46 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that Regions Financial Corp. will post $0.87 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be issued a $0.065 dividend. 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 (DPR) is presently 30.59%.
A number of equities research analysts have recently issued reports on the stock. 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 upgraded Regions Financial Corp. from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $10.50 to $15.00 in a research report on Monday, November 14th. Sandler O’Neill downgraded 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 restated 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 began coverage on Regions Financial Corp. in a research report on Thursday, October 6th. They set an “outperform” rating and a $12.00 price objective for the company. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $10.44.
In other Regions Financial Corp. news, EVP Brett D. Couch sold 32,342 shares of the stock in a transaction on Thursday, October 20th. The shares were sold at an average price of $10.63, for a total value of $343,795.46. Following the completion of the sale, the executive vice president now directly owns 251,064 shares of the company’s stock, valued at approximately $2,668,810.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William E. Horton sold 50,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 81,434 shares of the company’s stock, valued at $1,057,827.66. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.
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.