Royal London Asset Management Ltd. Has $5.70 Million Stock Position in Regions Financial Corp (NYSE:RF)

Royal London Asset Management Ltd. reduced its holdings in shares of Regions Financial Corp (NYSE:RF) by 15.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 381,724 shares of the bank’s stock after selling 72,016 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Regions Financial were worth $5,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lee Danner & Bass Inc. boosted its holdings in 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 during the last quarter. First Trust Advisors LP boosted its holdings in Regions Financial by 36.7% during the second quarter. First Trust Advisors LP now owns 2,208,623 shares of the bank’s stock worth $32,997,000 after purchasing an additional 593,098 shares during the last quarter. BancorpSouth Bank boosted its holdings in Regions Financial by 4.8% during the second quarter. BancorpSouth Bank now owns 45,265 shares of the bank’s stock worth $676,000 after purchasing an additional 2,074 shares during the last quarter. Berman Capital Advisors LLC boosted its holdings in Regions Financial by 6.5% during the second quarter. Berman Capital Advisors LLC now owns 23,344 shares of the bank’s stock worth $349,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Regions Financial by 3.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,509,004 shares of the bank’s stock worth $22,545,000 after purchasing an additional 55,258 shares during the last quarter. Hedge funds and other institutional investors own 71.89% of the company’s stock.

Shares of RF stock opened at $13.66 on Thursday. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.32 and a beta of 1.49. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. Regions Financial Corp has a 52 week low of $12.39 and a 52 week high of $19.99. The stock has a 50-day moving average of $15.09.



Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts expect that Regions Financial Corp will post 1.54 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.62 annualized dividend and a dividend yield of 4.54%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.14. Regions Financial’s payout ratio is 41.18%.

Regions Financial announced that its board has authorized a share buyback program on Thursday, June 27th that permits the company to buyback $1.37 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Several research firms recently weighed in on RF. Raymond James cut their price target on shares of Regions Financial from $19.50 to $18.00 and set a “strong-buy” rating on the stock in a report on Monday, April 22nd. Bank of America lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $16.00 in a research report on Thursday, July 11th. ValuEngine raised shares of Regions Financial from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Macquarie lowered shares of Regions Financial from a “neutral” rating to an “underperform” rating in a research report on Tuesday, April 23rd. Finally, Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $15.00 to $17.00 in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.33.

In related news, COO John B. Owen sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $14.63, for a total transaction of $585,200.00. Following the sale, the chief operating officer now owns 87,152 shares of the company’s stock, valued at approximately $1,275,033.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $14.68, for a total transaction of $104,932.64. Following the sale, the insider now directly owns 34,482 shares in the company, valued at approximately $506,195.76. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

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

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