Signaturefd LLC reduced its holdings in Regions Financial Corp (NYSE:RF) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,403 shares of the bank’s stock after selling 942 shares during the quarter. Signaturefd LLC’s holdings in Regions Financial were worth $339,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. KG&L Capital Management LLC grew its position in shares of Regions Financial by 6.2% in the second quarter. KG&L Capital Management LLC now owns 50,101 shares of the bank’s stock valued at $748,000 after purchasing an additional 2,938 shares during the last quarter. Bessemer Group Inc. grew its position in Regions Financial by 2,267.8% during the second quarter. Bessemer Group Inc. now owns 242,939 shares of the bank’s stock worth $3,629,000 after buying an additional 232,679 shares in the last quarter. Lee Danner & Bass Inc. grew its position 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 buying an additional 62,247 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in 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 buying an additional 2,607 shares in the last quarter. Finally, BB&T Securities LLC grew its position in Regions Financial by 181.5% during the second quarter. BB&T Securities LLC now owns 333,514 shares of the bank’s stock worth $4,982,000 after buying an additional 215,029 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.
In other news, EVP C. Matthew Lusco sold 20,000 shares of Regions Financial stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $16.43, for a total value of $328,600.00. Following the completion of the transaction, the executive vice president now owns 163,229 shares in the company, valued at $2,681,852.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of Regions Financial stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $14.68, for a total transaction of $104,932.64. Following the completion of the transaction, the insider now owns 34,482 shares of the company’s stock, valued at approximately $506,195.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,436 shares of company stock valued at $2,024,102. Corporate insiders own 0.28% of the company’s stock.
Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. As a group, research analysts anticipate that Regions Financial Corp will post 1.54 EPS for the current fiscal year.
Regions Financial declared that its board has initiated a share repurchase plan on Thursday, June 27th that permits the company to repurchase $1.37 billion in shares. This repurchase authorization permits the bank to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Thursday, December 5th. Regions Financial’s dividend payout ratio is 45.59%.
A number of equities research analysts recently weighed in on RF shares. Morgan Stanley set a $16.00 target price on Regions Financial and gave the stock a “hold” rating in a research report on Friday, August 9th. SunTrust Banks decreased their target price on Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. ValuEngine raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America downgraded Regions Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $16.00 in a research report on Thursday, July 11th. Finally, Citigroup downgraded Regions Financial from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $16.00 to $14.00 in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.74.
Regions Financial Company Profile
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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