Wetherby Asset Management Inc. lowered its stake in Regions Financial Corporation (NYSE:RF) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,784 shares of the company’s stock after selling 78 shares during the period. Wetherby Asset Management Inc.’s holdings in Regions Financial Corporation were worth $399,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in RF. LSV Asset Management increased its stake in shares of Regions Financial Corporation by 1.0% in the third quarter. LSV Asset Management now owns 33,541,284 shares of the company’s stock valued at $331,052,000 after buying an additional 329,900 shares during the period. JPMorgan Chase & Co. increased its position in shares of Regions Financial Corporation by 46.6% in the third quarter. JPMorgan Chase & Co. now owns 27,096,781 shares of the company’s stock worth $267,446,000 after buying an additional 8,617,323 shares during the period. BlackRock Fund Advisors increased its position in shares of Regions Financial Corporation by 3.6% in the third quarter. BlackRock Fund Advisors now owns 21,845,472 shares of the company’s stock worth $215,615,000 after buying an additional 764,361 shares during the period. Northern Trust Corp increased its position in shares of Regions Financial Corporation by 2.4% in the third quarter. Northern Trust Corp now owns 15,123,951 shares of the company’s stock worth $149,274,000 after buying an additional 356,101 shares during the period. Finally, Basswood Capital Management L.L.C. increased its position in shares of Regions Financial Corporation by 70.7% in the second quarter. Basswood Capital Management L.L.C. now owns 11,942,752 shares of the company’s stock worth $101,633,000 after buying an additional 4,944,933 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.
Shares of Regions Financial Corporation (NYSE:RF) remained flat at $14.99 during trading on Friday. 17,501,165 shares of the stock traded hands. Regions Financial Corporation has a 52-week low of $7.21 and a 52-week high of $15.17. The company has a market capitalization of $18.21 billion, a P/E ratio of 17.15 and a beta of 1.37. The firm’s 50 day moving average price is $14.44 and its 200 day moving average price is $11.81.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Friday, January 20th. The company reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The company earned $1.39 billion during the quarter. Regions Financial Corporation had a return on equity of 7.09% and a net margin of 19.49%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. Equities research analysts predict that Regions Financial Corporation will post $0.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be given a dividend of $0.065 per share. The ex-dividend date 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 presently 29.89%.
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A number of research analysts have issued reports on RF shares. FBR & Co restated a “buy” rating on shares of Regions Financial Corporation in a research note on Monday, January 23rd. Evercore ISI upped their price objective on Regions Financial Corporation from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, December 5th. Deutsche Bank AG upped their price objective on Regions Financial Corporation from $10.50 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, November 30th. Jefferies Group LLC downgraded Regions Financial Corporation from a “buy” rating to a “hold” rating and upped their price objective for the company from $11.50 to $14.00 in a research note on Monday, November 28th. Finally, Sandler O’Neill downgraded Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $11.50 price objective for the company. in a research note on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.07.
In related news, EVP Brett D. Couch sold 65,848 shares of Regions Financial Corporation stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $14.64, for a total transaction of $964,014.72. Following the transaction, the executive vice president now directly owns 240,659 shares in the company, valued at $3,523,247.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William E. Horton sold 12,000 shares of Regions Financial Corporation stock in a transaction on Monday, November 21st. The shares were 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. Insiders have sold 205,848 shares of company stock worth $2,892,215 over the last quarter. 0.88% of the stock is owned by company insiders.
About Regions Financial Corporation
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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