Stevens Capital Management LP raised its position in shares of Regions Financial Corporation (NYSE:RF) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,951 shares of the bank’s stock after buying an additional 5,333 shares during the period. Stevens Capital Management LP’s holdings in Regions Financial Corporation were worth $2,971,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Centers of America Inc. increased its holdings in shares of Regions Financial Corporation by 6.4% during the second quarter. Investment Centers of America Inc. now owns 49,391 shares of the bank’s stock worth $722,000 after buying an additional 2,974 shares in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Regions Financial Corporation during the second quarter worth approximately $352,000. Amalgamated Bank increased its holdings in shares of Regions Financial Corporation by 52.6% during the second quarter. Amalgamated Bank now owns 135,017 shares of the bank’s stock worth $1,977,000 after buying an additional 46,535 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of Regions Financial Corporation by 8.1% during the second quarter. Bahl & Gaynor Inc. now owns 34,501 shares of the bank’s stock worth $495,000 after buying an additional 2,579 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Regions Financial Corporation during the second quarter worth approximately $139,000. 75.56% of the stock is owned by institutional investors.
RF has been the subject of several recent analyst reports. Bank of America Corporation reaffirmed a “buy” rating and set a $17.00 price objective on shares of Regions Financial Corporation in a report on Wednesday, July 26th. BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $15.00 price target on shares of Regions Financial Corporation in a report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 price target on shares of Regions Financial Corporation and gave the company a “hold” rating in a report on Tuesday, June 20th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.89.
In other news, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $15.23, for a total transaction of $152,300.00. Following the completion of the sale, the director now directly owns 32,188 shares in the company, valued at $490,223.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David J. Turner, Jr. sold 65,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the sale, the chief financial officer now owns 121,160 shares of the company’s stock, valued at $1,811,342. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is currently owned by corporate insiders.
Regions Financial Corporation (RF) opened at 14.15 on Wednesday. Regions Financial Corporation has a 12 month low of $9.45 and a 12 month high of $16.03. The stock’s 50 day moving average is $14.18 and its 200-day moving average is $14.27. The company has a market capitalization of $16.91 billion, a PE ratio of 14.79 and a beta of 1.33.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Regions Financial Corporation will post $1.00 EPS for the current year.
Regions Financial Corporation announced that its board has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $1.47 billion in shares. This buyback authorization permits the bank to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 2.54%. Regions Financial Corporation’s dividend payout ratio is 37.89%.
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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