Northern Trust Corp Has $233.45 Million Stake in Regions Financial Corp (RF)

Northern Trust Corp decreased its stake in Regions Financial Corp (NYSE:RF) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,129,729 shares of the bank’s stock after selling 411,448 shares during the quarter. Northern Trust Corp’s holdings in Regions Financial were worth $233,447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Regions Financial by 87.3% in the second quarter. Parallel Advisors LLC now owns 6,062 shares of the bank’s stock worth $107,000 after buying an additional 2,825 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Regions Financial by 8,481.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,522 shares of the bank’s stock worth $116,000 after buying an additional 6,446 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Regions Financial in the second quarter worth about $116,000. Summit Trail Advisors LLC boosted its position in shares of Regions Financial by 1,646.8% in the first quarter. Summit Trail Advisors LLC now owns 134,102 shares of the bank’s stock worth $134,000 after buying an additional 126,425 shares during the period. Finally, Advisory Services Network LLC boosted its position in shares of Regions Financial by 61.6% in the second quarter. Advisory Services Network LLC now owns 7,694 shares of the bank’s stock worth $141,000 after buying an additional 2,933 shares during the period. 74.75% of the stock is owned by institutional investors.

In other Regions Financial news, Director Susan W. Matlock sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $18.50, for a total transaction of $444,000.00. Following the sale, the director now owns 14,914 shares in the company, valued at $275,909. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP C. Keith Herron sold 23,186 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $18.76, for a total value of $434,969.36. Following the sale, the executive vice president now owns 204,537 shares in the company, valued at approximately $3,837,114.12. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Several brokerages have recently weighed in on RF. Wedbush set a $22.00 target price on Regions Financial and gave the stock a “buy” rating in a research report on Friday, September 7th. Robert W. Baird raised Regions Financial from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. Royal Bank of Canada raised Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 target price for the company in a research report on Monday, June 18th. Finally, ValuEngine downgraded Regions Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $17.57.

Shares of RF opened at $19.25 on Wednesday. The stock has a market capitalization of $21.43 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.10 and a beta of 1.26. Regions Financial Corp has a one year low of $14.47 and a one year high of $20.21. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.66.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 20th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. Regions Financial’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share. research analysts anticipate that Regions Financial Corp will post 1.42 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.56 dividend on an annualized basis and a yield of 2.91%. This is an increase from Regions Financial’s previous quarterly dividend of $0.09. Regions Financial’s dividend payout ratio is currently 56.00%.

Regions Financial Profile

Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.

Read More: Intrinsic Value and Stock Selection

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

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