Trustcore Financial Services LLC purchased a new position in Regions Financial Corp (NYSE:RF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,157 shares of the bank’s stock, valued at approximately $245,000.
A number of other institutional investors also recently made changes to their positions in RF. Macquarie Group Ltd. increased its stake in Regions Financial by 29.6% in the 2nd quarter. Macquarie Group Ltd. now owns 51,242 shares of the bank’s stock worth $750,000 after purchasing an additional 11,700 shares during the period. Shell Asset Management Co. increased its stake in Regions Financial by 195.3% in the 3rd quarter. Shell Asset Management Co. now owns 203,382 shares of the bank’s stock worth $2,042,000 after purchasing an additional 134,519 shares during the period. Mutual of America Capital Management LLC increased its stake in Regions Financial by 4.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 151,879 shares of the bank’s stock worth $2,313,000 after purchasing an additional 5,960 shares during the period. Assenagon Asset Management S.A. purchased a new position in Regions Financial in the 3rd quarter worth approximately $12,314,000. Finally, Fox Run Management L.L.C. increased its stake in Regions Financial by 54.5% in the 3rd quarter. Fox Run Management L.L.C. now owns 37,400 shares of the bank’s stock worth $570,000 after purchasing an additional 13,200 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regions Financial Corp (RF) opened at $19.28 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 0.86. Regions Financial Corp has a 1 year low of $13.00 and a 1 year high of $19.90. The firm has a market capitalization of $22,056.30, a P/E ratio of 19.45, a P/E/G ratio of 1.45 and a beta of 1.32.
Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Regions Financial had a return on equity of 7.87% and a net margin of 20.48%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $0.23 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. research analysts predict that Regions Financial Corp will post 1.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.36 annualized dividend and a dividend yield of 1.87%. Regions Financial’s dividend payout ratio is presently 36.00%.
In related news, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total transaction of $255,600.00. Following the sale, the director now directly owns 59,436 shares in the company, valued at $1,012,789.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott M. Peters sold 25,627 shares of Regions Financial stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total value of $499,726.50. Following the sale, the executive vice president now owns 240,796 shares in the company, valued at $4,695,522. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
A number of equities analysts have commented on the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $16.00 price target on shares of Regions Financial in a research note on Wednesday, October 25th. Morgan Stanley lifted their price target on Regions Financial from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. SunTrust Banks reaffirmed a “buy” rating and issued a $19.00 price target on shares of Regions Financial in a research note on Wednesday, November 29th. ValuEngine cut Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, B. Riley reaffirmed a “hold” rating and issued a $19.00 price target on shares of Regions Financial in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $17.24.
Regions Financial 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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