Mendon Capital Advisors Corp Takes Position in Regions Financial Corporation (RF)

Mendon Capital Advisors Corp purchased a new stake in shares of Regions Financial Corporation (NYSE:RF) during the first quarter, Holdings Channel reports. The institutional investor purchased 200,000 shares of the bank’s stock, valued at approximately $2,906,000.

A number of other institutional investors have also recently modified their holdings of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Regions Financial Corporation during the fourth quarter valued at $204,000. Bridgeworth LLC purchased a new position in shares of Regions Financial Corporation during the fourth quarter valued at $447,000. Boothbay Fund Management LLC purchased a new position in shares of Regions Financial Corporation during the fourth quarter valued at $152,000. Cigna Investments Inc. New purchased a new position in shares of Regions Financial Corporation during the fourth quarter valued at $656,000. Finally, L & S Advisors Inc purchased a new position in shares of Regions Financial Corporation during the fourth quarter valued at $185,000. 76.42% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Regions Financial Corporation (NYSE:RF)

Regions Financial Corporation (RF) opened at 13.57 on Friday. The firm’s 50-day moving average is $14.14 and its 200-day moving average is $14.43. The company has a market cap of $16.31 billion, a PE ratio of 14.91 and a beta of 1.34. Regions Financial Corporation has a 52-week low of $7.80 and a 52-week high of $16.03.

Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings data on Tuesday, April 18th. The bank reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Regions Financial Corporation had a return on equity of 7.27% and a net margin of 19.94%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. On average, equities research analysts anticipate that Regions Financial Corporation will post $0.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $0.28 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio (DPR) is presently 31.11%.

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Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.00 target price on shares of Regions Financial Corporation in a report on Monday, April 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $15.00 target price on shares of Regions Financial Corporation in a report on Friday. Wedbush downgraded shares of Regions Financial Corporation from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Monday, May 1st. BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.08.

In other news, EVP C. Keith Herron sold 30,000 shares of Regions Financial Corporation stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $14.30, for a total transaction of $429,000.00. Following the transaction, the executive vice president now owns 204,537 shares in the company, valued at approximately $2,924,879.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Grayson Hall sold 202,231 shares of Regions Financial Corporation stock in a transaction on Friday, April 21st. The stock was sold at an average price of $13.51, for a total value of $2,732,140.81. Following the transaction, the chairman now owns 494,874 shares in the company, valued at approximately $6,685,747.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 396,176 shares of company stock worth $5,418,986. Insiders own 0.52% of the company’s stock.

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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RF).

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