Pictet Asset Management Ltd. Purchases 9,500 Shares of Regions Financial Corp (NYSE:RF)

Pictet Asset Management Ltd. boosted its position in shares of Regions Financial Corp (NYSE:RF) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 528,297 shares of the bank’s stock after purchasing an additional 9,500 shares during the quarter. Pictet Asset Management Ltd. owned about 0.05% of Regions Financial worth $7,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Cibc World Markets Corp raised its holdings in Regions Financial by 216.2% during the 2nd quarter. Cibc World Markets Corp now owns 426,081 shares of the bank’s stock worth $6,366,000 after purchasing an additional 291,313 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Regions Financial by 6.8% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 74,284 shares of the bank’s stock valued at $1,110,000 after acquiring an additional 4,732 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Regions Financial by 6.8% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 90,202 shares of the bank’s stock valued at $1,348,000 after acquiring an additional 5,746 shares during the last quarter. Tyers Asset Management LLC increased its stake in shares of Regions Financial by 6.8% in the 2nd quarter. Tyers Asset Management LLC now owns 42,448 shares of the bank’s stock valued at $634,000 after acquiring an additional 2,704 shares during the last quarter. Finally, Elkfork Partners LLC increased its stake in shares of Regions Financial by 6.8% in the 2nd quarter. Elkfork Partners LLC now owns 58,366 shares of the bank’s stock valued at $872,000 after acquiring an additional 3,718 shares during the last quarter. 71.60% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP C. Keith Herron sold 69,288 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $14.51, for a total value of $1,005,368.88. Following the completion of the transaction, the executive vice president now directly owns 232,595 shares in the company, valued at approximately $3,374,953.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John B. Owen sold 40,000 shares of the business’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 value of $585,200.00. Following the completion of the transaction, the chief operating officer now owns 87,152 shares of the company’s stock, valued at $1,275,033.76. The disclosure for this sale can be found here. Insiders sold a total of 116,436 shares of company stock valued at $1,695,502 over the last quarter. 0.28% of the stock is owned by insiders.



Shares of RF traded up $0.10 on Friday, hitting $16.35. The company’s stock had a trading volume of 9,625,202 shares, compared to its average volume of 10,214,435. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $14.78 and its 200-day moving average price is $14.91. Regions Financial Corp has a fifty-two week low of $12.39 and a fifty-two week high of $19.55. The firm has a market capitalization of $16.21 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.51 and a beta of 1.54.

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

Regions Financial declared that its board has authorized a share repurchase program on Thursday, June 27th that permits the company to buyback $1.37 billion in shares. This buyback authorization permits the bank to buy up to 9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 is a positive change from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a dividend yield of 3.79%. Regions Financial’s payout ratio is currently 45.59%.

A number of analysts have recently commented on the company. Raymond James set a $17.00 price target on Regions Financial and gave the company a “buy” rating in a research note on Thursday, August 29th. SunTrust Banks lowered their price target on Regions Financial from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Morgan Stanley set a $16.00 price target on Regions Financial and gave the company a “hold” rating in a research note on Friday, August 9th. Bank of America cut Regions Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $16.00 in a research note on Thursday, July 11th. Finally, Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $15.00 to $17.00 in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Regions Financial has an average rating of “Hold” and an average target price of $17.24.

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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