Sivia Capital Partners LLC acquired a new position in shares of Regions Financial Corporation (NYSE:RF – Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 19,239 shares of the bank’s stock, valued at approximately $521,000.
A number of other hedge funds have also modified their holdings of RF. AGF Management Ltd. bought a new stake in shares of Regions Financial during the 3rd quarter worth $1,669,000. American Century Companies Inc. boosted its holdings in shares of Regions Financial by 85.9% during the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock worth $121,976,000 after buying an additional 2,137,062 shares during the period. Stevens Capital Management LP boosted its holdings in shares of Regions Financial by 355.9% during the 3rd quarter. Stevens Capital Management LP now owns 42,850 shares of the bank’s stock worth $1,130,000 after buying an additional 33,450 shares during the period. ABC Arbitrage SA bought a new stake in shares of Regions Financial during the 3rd quarter worth $860,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Regions Financial by 11.2% during the 3rd quarter. Schroder Investment Management Group now owns 1,732,045 shares of the bank’s stock worth $45,899,000 after buying an additional 173,871 shares during the period. 79.39% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. DA Davidson upped their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Brean Capital assumed coverage on shares of Regions Financial in a report on Thursday, March 12th. They set a “neutral” rating for the company. Morgan Stanley reduced their price target on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 price target on shares of Regions Financial in a report on Tuesday, March 3rd. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.47.
Regions Financial Price Performance
NYSE:RF opened at $28.57 on Friday. The company has a 50-day moving average of $27.48 and a 200-day moving average of $27.49. The company has a market capitalization of $24.38 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.11 and a beta of 1.00. Regions Financial Corporation has a 52 week low of $21.40 and a 52 week high of $31.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.
Regions Financial (NYSE:RF – Get Free Report) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.
Regions Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is presently 44.17%.
Insider Activity at Regions Financial
In other news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.
Regions Financial Company Profile
Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.
In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.
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