Today: Regions Financial Corp. (RF) Stake Boosted by Assetmark Inc.

Today: Regions Financial Corp. (RF) Stake Boosted by Assetmark Inc.

Assetmark Inc. increased its position in Regions Financial Corp. (NYSE:RF) by 23.2% during the third quarter, Holdings Channel reports. The firm owned 67,247 shares of the company’s stock after buying an additional 12,662 shares during the period. Assetmark Inc.’s holdings in Regions Financial Corp. were worth $664,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. MCF Advisors LLC increased its stake in Regions Financial Corp. by 0.6% in the second quarter. MCF Advisors LLC now owns 14,243 shares of the company’s stock worth $121,000 after buying an additional 85 shares during the period. Pitcairn Co. increased its stake in Regions Financial Corp. by 0.4% in the second quarter. Pitcairn Co. now owns 22,421 shares of the company’s stock worth $191,000 after buying an additional 90 shares during the period. Investors Capital Advisory Services increased its stake in Regions Financial Corp. by 0.5% in the second quarter. Investors Capital Advisory Services now owns 42,678 shares of the company’s stock worth $363,000 after buying an additional 224 shares during the period. Lynch & Associates IN increased its stake in Regions Financial Corp. by 0.9% in the second quarter. Lynch & Associates IN now owns 32,964 shares of the company’s stock worth $281,000 after buying an additional 300 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. increased its stake in Regions Financial Corp. by 1.8% in the second quarter. Westbourne Investment Advisors Inc. now owns 16,800 shares of the company’s stock worth $143,000 after buying an additional 300 shares during the last quarter. Institutional investors own 72.31% of the company’s stock.

Shares of Regions Financial Corp. (NYSE:RF) traded down 1.35% during trading on Monday, hitting $13.18. 6,083,173 shares of the stock were exchanged. The firm’s 50-day moving average is $11.34 and its 200 day moving average is $9.86. The company has a market cap of $16.22 billion, a P/E ratio of 15.49 and a beta of 1.35. Regions Financial Corp. has a 1-year low of $7.00 and a 1-year high of $13.54.

Regions Financial Corp. (NYSE:RF) last released its earnings results on Tuesday, October 18th. The company reported $0.24 earnings per share for the quarter, beating 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 business earned $1.46 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $0.18 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Equities analysts forecast that Regions Financial Corp. will post $0.87 earnings per share for the current fiscal year.

The business 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. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.26 dividend on an annualized basis and a yield of 1.95%. Regions Financial Corp.’s dividend payout ratio (DPR) is 30.59%.

A number of analysts recently commented on RF shares. Piper Jaffray Cos. downgraded shares of Regions Financial Corp. from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 16th. Sanford C. Bernstein downgraded shares of Regions Financial Corp. from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $9.56 to $9.50 in a report on Tuesday, August 16th. They noted that the move was a valuation call. Barclays PLC reiterated a “sell” rating and issued a $10.00 target price on shares of Regions Financial Corp. in a report on Tuesday, October 11th. Credit Suisse Group AG set a $9.50 target price on shares of Regions Financial Corp. and gave the stock a “hold” rating in a report on Wednesday, September 14th. Finally, Raymond James Financial Inc. downgraded shares of Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 target price on the stock. in a research report on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Regions Financial Corp. presently has a consensus rating of “Hold” and an average price target of $10.44.

In other Regions Financial Corp. news, 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 transaction, the executive vice president now directly owns 19,434 shares of the company’s stock, valued at $255,945.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William D. Ritter sold 69,410 shares of Regions Financial Corp. stock in a transaction 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 of the company’s stock, valued at $3,451,744.43. 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 ena
ble transfer of wealth.

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