Archford Capital Strategies LLC reduced its position in Regions Financial Corporation (NYSE:RF) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,005 shares of the bank’s stock after selling 1,306 shares during the period. Archford Capital Strategies LLC’s holdings in Regions Financial Corporation were worth $203,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in RF. JPMorgan Chase & Co. raised its position in Regions Financial Corporation by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock worth $395,848,000 after buying an additional 2,985,752 shares during the period. Toronto Dominion Bank raised its position in Regions Financial Corporation by 53.9% in the first quarter. Toronto Dominion Bank now owns 326,968 shares of the bank’s stock worth $4,750,000 after buying an additional 114,483 shares during the period. Trexquant Investment LP raised its position in Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock worth $2,345,000 after buying an additional 33,700 shares during the period. Macquarie Group Ltd. raised its position in Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock worth $638,000 after buying an additional 14,525 shares during the period. Finally, Elkfork Partners LLC raised its position in Regions Financial Corporation by 96.9% in the first quarter. Elkfork Partners LLC now owns 809,160 shares of the bank’s stock worth $11,757,000 after buying an additional 398,112 shares during the period. 75.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Regions Financial Corporation (RF) opened at 14.50 on Friday. The stock has a 50 day moving average price of $14.43 and a 200 day moving average price of $14.44. Regions Financial Corporation has a one year low of $8.82 and a one year high of $16.03. The stock has a market capitalization of $17.39 billion, a P/E ratio of 15.15 and a beta of 1.32.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 earnings per share. Equities analysts forecast that Regions Financial Corporation will post $1.00 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.09 dividend. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.48%. Regions Financial Corporation’s payout ratio is 29.47%.
Regions Financial Corporation declared that its board has approved a stock buyback program on Wednesday, June 28th that allows the company to repurchase $1.47 billion in shares. This repurchase authorization allows the bank to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
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RF has been the topic of a number of research analyst reports. Rafferty Capital Markets downgraded Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Thursday, April 20th. Bank of America Corporation upgraded Regions Financial Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $17.00 in a research report on Thursday, May 4th. Argus downgraded Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Monday, May 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $15.00 target price on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $14.13.
In other Regions Financial Corporation news, EVP Scott M. Peters sold 13,689 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total value of $199,996.29. Following the completion of the transaction, the executive vice president now owns 147,528 shares in the company, valued at $2,155,384.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP C. Keith Herron sold 30,000 shares of the business’s 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 completion of the transaction, the executive vice president now owns 204,537 shares of the company’s stock, valued at approximately $2,924,879.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,514 shares of company stock valued at $1,151,683. 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.
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