Cleararc Capital Inc. decreased its stake in Regions Financial Corporation (NYSE:RF) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,475 shares of the bank’s stock after selling 425 shares during the period. Cleararc Capital Inc.’s holdings in Regions Financial Corporation were worth $428,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Fred Alger Management Inc. acquired a new stake in Regions Financial Corporation during the fourth quarter worth approximately $4,132,000. A.R.T. Advisors LLC acquired a new stake in Regions Financial Corporation during the fourth quarter worth approximately $917,000. Blenheim Capital Management BV acquired a new stake in Regions Financial Corporation during the fourth quarter worth approximately $319,000. AMF Pensionsforsakring AB acquired a new stake in Regions Financial Corporation during the fourth quarter worth approximately $6,027,000. Finally, Tyers Asset Management LLC acquired a new stake in Regions Financial Corporation during the fourth quarter worth approximately $4,293,000. 76.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regions Financial Corporation (RF) traded down 1.10% during trading on Tuesday, reaching $14.34. 5,178,167 shares of the company were exchanged. The stock has a 50-day moving average of $14.13 and a 200 day moving average of $14.43. Regions Financial Corporation has a 52-week low of $7.80 and a 52-week high of $16.03. The stock has a market capitalization of $17.24 billion, a P/E ratio of 15.76 and a beta of 1.34.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings data on Tuesday, April 18th. The bank reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Regions Financial Corporation had a return on equity of 7.27% and a net margin of 19.94%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. On average, equities analysts anticipate that Regions Financial Corporation will post $0.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be given a dividend of $0.07 per share. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.28 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, June 7th. Regions Financial Corporation’s payout ratio is presently 31.11%.
A number of equities analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) lowered their price objective on shares of Regions Financial Corporation to $17.00 and set a “buy” rating for the company in a research report on Thursday, March 30th. Rafferty Capital Markets lowered shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Thursday, April 20th. Wedbush restated an “outperform” rating and issued a $16.00 price objective on shares of Regions Financial Corporation in a report on Tuesday, March 7th. Bank of America Corporation upgraded shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $17.00 in a report on Thursday, May 4th. Finally, Argus lowered shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.06.
In other news, CFO David J. Turner, Jr. sold 45,535 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $13.82, for a total transaction of $629,293.70. Following the completion of the transaction, the chief financial officer now directly owns 126,160 shares in the company, valued at approximately $1,743,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP C. Keith Herron sold 30,000 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $14.30, for a total value of $429,000.00. Following the transaction, the executive vice president now owns 204,537 shares of the company’s stock, valued at $2,924,879.10. The disclosure for this sale can be found here. Insiders have sold a total of 396,176 shares of company stock valued at $5,418,986 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.
Regions Financial Corporation 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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