Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Regions Financial Corp (NYSE:RF) by 26.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,404 shares of the bank’s stock after buying an additional 18,839 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Regions Financial Corp were worth $1,299,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RF. Adage Capital Partners GP L.L.C. raised its position in Regions Financial Corp by 145.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 650,000 shares of the bank’s stock valued at $6,416,000 after buying an additional 384,700 shares during the last quarter. Algebris Investments UK LLP purchased a new position in Regions Financial Corp during the third quarter valued at $1,477,000. Nomura Asset Management Co. Ltd. raised its position in Regions Financial Corp by 0.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 183,896 shares of the bank’s stock valued at $1,815,000 after buying an additional 1,100 shares during the last quarter. Principal Financial Group Inc. raised its position in Regions Financial Corp by 1.4% in the third quarter. Principal Financial Group Inc. now owns 1,997,726 shares of the bank’s stock valued at $19,718,000 after buying an additional 27,384 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Regions Financial Corp by 8.4% in the third quarter. Ameriprise Financial Inc. now owns 1,070,760 shares of the bank’s stock valued at $10,590,000 after buying an additional 83,313 shares during the last quarter. 74.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regions Financial Corp (NYSE:RF) traded up 0.57% during mid-day trading on Friday, hitting $14.09. 13,766,436 shares of the stock were exchanged. The stock’s 50 day moving average price is $14.09 and its 200-day moving average price is $14.13. The stock has a market capitalization of $16.94 billion, a P/E ratio of 15.48 and a beta of 1.37. Regions Financial Corp has a 12-month low of $7.80 and a 12-month high of $16.03.
Regions Financial Corp (NYSE:RF) last issued its earnings results on Tuesday, April 18th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Regions Financial Corp had a return on equity of 7.09% and a net margin of 19.49%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned $0.20 EPS. Regions Financial Corp’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Regions Financial Corp will post $0.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be issued a $0.07 dividend. This is a boost from Regions Financial Corp’s previous quarterly dividend of $0.07. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, June 7th. Regions Financial Corp’s dividend payout ratio (DPR) is currently 29.89%.
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Several research firms recently weighed in on RF. SunTrust Banks, Inc. raised shares of Regions Financial Corp from a “hold” rating to a “buy” rating in a research note on Thursday, February 16th. Stephens lowered shares of Regions Financial Corp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 1st. Wedbush reissued an “outperform” rating and set a $16.00 price objective on shares of Regions Financial Corp in a research note on Tuesday, March 7th. Goldman Sachs Group Inc reduced their price objective on shares of Regions Financial Corp to $17.00 and set a “buy” rating on the stock in a research note on Thursday, March 30th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $16.00 price objective on shares of Regions Financial Corp in a research note on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.87.
In related news, EVP William D. Ritter sold 39,258 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $13.82, for a total value of $542,545.56. Following the transaction, the executive vice president now directly owns 195,423 shares in the company, valued at approximately $2,700,745.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Grayson Hall sold 202,231 shares of the stock in a transaction on Friday, April 21st. The stock was sold at an average price of $13.51, for a total value of $2,732,140.81. Following the completion of the transaction, the chairman now owns 494,874 shares in the company, valued at $6,685,747.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 396,176 shares of company stock worth $5,418,986. 0.88% of the stock is owned by company insiders.
Regions Financial Corp Company Profile
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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