State Street Corp raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,217,844 shares of the company’s stock after buying an additional 3,158,238 shares during the period. State Street Corp owned about 6.03% of Regions Financial Corporation worth $1,051,405,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Asset Management Company LTD raised its position in Regions Financial Corporation by 1.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 98,671 shares of the company’s stock worth $839,000 after buying an additional 962 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in Regions Financial Corporation by 2.9% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,529,939 shares of the company’s stock worth $13,019,000 after buying an additional 43,057 shares during the last quarter. Anchor Capital Advisors LLC raised its position in Regions Financial Corporation by 5.6% in the second quarter. Anchor Capital Advisors LLC now owns 340,000 shares of the company’s stock worth $2,893,000 after buying an additional 18,000 shares during the last quarter. IFC Holdings Incorporated FL raised its position in Regions Financial Corporation by 18.0% in the second quarter. IFC Holdings Incorporated FL now owns 15,823 shares of the company’s stock worth $129,000 after buying an additional 2,412 shares during the last quarter. Finally, Investors Capital Advisory Services raised its position in Regions Financial Corporation 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 last quarter. Institutional investors own 74.07% of the company’s stock.
Regions Financial Corporation (NYSE:RF) remained flat at $14.99 during mid-day trading on Friday. 17,501,165 shares of the stock traded hands. The firm has a 50 day moving average price of $14.44 and a 200-day moving average price of $11.81. The company has a market cap of $18.21 billion, a PE ratio of 17.15 and a beta of 1.37. Regions Financial Corporation has a 12 month low of $7.21 and a 12 month high of $15.17.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings results on Friday, January 20th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Regions Financial Corporation had a return on equity of 7.09% and a net margin of 19.49%. The business had revenue of $1.39 billion for the quarter. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts predict that Regions Financial Corporation will post $0.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.26 annualized dividend and a yield of 1.73%. Regions Financial Corporation’s dividend payout ratio (DPR) is currently 29.89%.
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Several equities analysts have recently commented on RF shares. FBR & Co reissued a “buy” rating on shares of Regions Financial Corporation in a report on Monday, January 23rd. Evercore ISI boosted their target price on shares of Regions Financial Corporation from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, December 5th. Deutsche Bank AG boosted their target price on shares of Regions Financial Corporation from $10.50 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, November 30th. Jefferies Group LLC downgraded shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $11.50 to $14.00 in a report on Monday, November 28th. Finally, Sandler O’Neill downgraded shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $11.50 target price on the stock. in a report on Tuesday, November 8th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial Corporation currently has a consensus rating of “Hold” and a consensus target price of $11.80.
In related news, EVP William E. Horton sold 50,000 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Also, EVP William E. Horton sold 12,000 shares of the business’s stock in a transaction dated 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. Over the last 90 days, insiders sold 205,848 shares of company stock worth $2,892,215. 0.88% of the stock is owned by insiders.
Regions Financial Corporation 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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