Paragon Capital Management LLC raised its stake in Regions Financial Corp (NYSE:RF) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 325,463 shares of the bank’s stock after buying an additional 6,334 shares during the quarter. Regions Financial comprises about 2.2% of Paragon Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Paragon Capital Management LLC’s holdings in Regions Financial were worth $4,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. KG&L Capital Management LLC lifted its position in shares of Regions Financial by 6.2% during the second quarter. KG&L Capital Management LLC now owns 50,101 shares of the bank’s stock worth $748,000 after purchasing an additional 2,938 shares in the last quarter. Lee Danner & Bass Inc. lifted its position in shares of Regions Financial by 70.8% during the second quarter. Lee Danner & Bass Inc. now owns 150,140 shares of the bank’s stock worth $2,243,000 after purchasing an additional 62,247 shares in the last quarter. Northern Trust Corp lifted its position in shares of Regions Financial by 0.8% during the first quarter. Northern Trust Corp now owns 12,774,641 shares of the bank’s stock worth $180,761,000 after purchasing an additional 99,218 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Regions Financial by 15.5% during the second quarter. Cornerstone Wealth Management LLC now owns 19,438 shares of the bank’s stock worth $290,000 after purchasing an additional 2,607 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its position in shares of Regions Financial by 11.8% during the second quarter. Carroll Financial Associates Inc. now owns 24,515 shares of the bank’s stock worth $366,000 after purchasing an additional 2,591 shares in the last quarter. 71.32% of the stock is currently owned by institutional investors.
RF has been the topic of a number of recent research reports. Morgan Stanley set a $16.00 target price on shares of Regions Financial and gave the stock a “hold” rating in a research note on Friday, August 9th. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $15.00 to $17.00 in a research note on Monday, July 22nd. Finally, Bank of America lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $16.00 in a research note on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $17.33.
Shares of RF stock traded down $0.21 during trading hours on Friday, reaching $14.04. 4,147,954 shares of the stock were exchanged, compared to its average volume of 12,863,943. The business’s fifty day moving average is $14.98 and its two-hundred day moving average is $15.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.88. Regions Financial Corp has a 12-month low of $12.39 and a 12-month high of $19.99. The firm has a market capitalization of $13.97 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.30 and a beta of 1.49.
Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.49 billion. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. As a group, equities research analysts predict that Regions Financial Corp will post 1.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $0.155 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Thursday, September 5th. Regions Financial’s dividend payout ratio is currently 41.18%.
Regions Financial declared that its Board of Directors has approved a stock buyback plan on Thursday, June 27th that authorizes the company to repurchase $1.37 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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