Wealthfront Inc. reduced its position in shares of Regions Financial Corp (NYSE:RF) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,032 shares of the bank’s stock after selling 23,087 shares during the period. Wealthfront Inc.’s holdings in Regions Financial were worth $2,420,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners raised its stake in shares of Regions Financial by 3.7% in the third quarter. Boston Partners now owns 33,692,511 shares of the bank’s stock valued at $513,137,000 after acquiring an additional 1,191,474 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Regions Financial by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 14,430,899 shares of the bank’s stock valued at $219,767,000 after acquiring an additional 382,430 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of Regions Financial by 257.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 9,538,317 shares of the bank’s stock valued at $145,268,000 after acquiring an additional 6,868,243 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Regions Financial by 0.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 7,104,771 shares of the bank’s stock valued at $108,206,000 after acquiring an additional 22,026 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Regions Financial by 2.0% in the third quarter. Legal & General Group Plc now owns 6,341,024 shares of the bank’s stock valued at $96,577,000 after acquiring an additional 122,772 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.
Regions Financial Corp (NYSE:RF) opened at $19.28 on Tuesday. The stock has a market capitalization of $22,056.30, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.32. Regions Financial Corp has a twelve month low of $13.00 and a twelve month high of $19.90. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, March 8th. Regions Financial’s payout ratio is 36.00%.
In related news, EVP Scott M. Peters sold 25,627 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $19.50, for a total transaction of $499,726.50. Following the transaction, the executive vice president now owns 240,796 shares of the company’s stock, valued at $4,695,522. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total value of $255,600.00. Following the transaction, the director now directly owns 59,436 shares in the company, valued at approximately $1,012,789.44. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
RF has been the topic of several analyst reports. FBR & Co reiterated a “hold” rating and issued a $16.00 price objective on shares of Regions Financial in a research note on Wednesday, October 25th. Royal Bank of Canada reiterated a “hold” rating and issued a $16.00 price objective on shares of Regions Financial in a research note on Wednesday, October 25th. Nomura reiterated a “neutral” rating and issued a $17.00 price objective (up from $16.00) on shares of Regions Financial in a research note on Thursday, October 26th. JPMorgan Chase & Co. increased their price objective on Regions Financial from $15.50 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, November 1st. Finally, Goldman Sachs Group upgraded Regions Financial from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, November 16th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.24.
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Regions Financial 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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