Dalton Greiner Hartman Maher & Co. cut its stake in shares of Regions Financial Corporation (NYSE:RF) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 731,961 shares of the bank’s stock after selling 14,808 shares during the period. Dalton Greiner Hartman Maher & Co. owned about 0.06% of Regions Financial Corporation worth $10,716,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in shares of Regions Financial Corporation during the second quarter valued at $1,579,000. Patten & Patten Inc. TN raised its position in shares of Regions Financial Corporation by 1.7% in the second quarter. Patten & Patten Inc. TN now owns 131,530 shares of the bank’s stock valued at $1,926,000 after buying an additional 2,192 shares in the last quarter. Aperio Group LLC raised its position in shares of Regions Financial Corporation by 9.4% in the second quarter. Aperio Group LLC now owns 1,061,895 shares of the bank’s stock valued at $15,546,000 after buying an additional 91,654 shares in the last quarter. Diversified Trust Co raised its position in shares of Regions Financial Corporation by 9.3% in the second quarter. Diversified Trust Co now owns 42,356 shares of the bank’s stock valued at $620,000 after buying an additional 3,606 shares in the last quarter. Finally, Main Street Research LLC raised its position in shares of Regions Financial Corporation by 4.2% in the second quarter. Main Street Research LLC now owns 940,974 shares of the bank’s stock valued at $13,776,000 after buying an additional 38,224 shares in the last quarter. Hedge funds and other institutional investors own 75.47% of the company’s stock.
Shares of Regions Financial Corporation (NYSE:RF) traded down 0.91% during mid-day trading on Friday, reaching $14.18. The company’s stock had a trading volume of 8,624,300 shares. Regions Financial Corporation has a 1-year low of $8.82 and a 1-year high of $16.03. The firm’s 50 day moving average price is $14.30 and its 200-day moving average price is $14.44. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of 15.58 and a beta of 1.32.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Regions Financial Corporation had a net margin of 19.94% and a return on equity of 7.27%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts predict that Regions Financial Corporation will post $0.99 EPS for the current year.
Regions Financial Corporation declared that its board has initiated a share repurchase plan on Wednesday, June 28th that permits the company to buyback $1.47 billion in shares. This buyback authorization permits the bank to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Several brokerages recently weighed in on RF. Instinet restated a “neutral” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a research note on Wednesday, July 12th. Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Royal Bank Of Canada reiterated a “hold” rating and set a $15.00 price objective on shares of Regions Financial Corporation in a research note on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 price objective on Regions Financial Corporation and gave the stock a “hold” rating in a research note on Tuesday, June 20th. Finally, BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.13.
In other Regions Financial Corporation news, EVP John B. Owen sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $13.94, for a total transaction of $418,200.00. Following the completion of the transaction, the executive vice president now directly owns 220,778 shares of the company’s stock, valued at approximately $3,077,645.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David J. Turner, Jr. sold 45,535 shares of the business’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $13.82, for a total transaction of $629,293.70. Following the transaction, the chief financial officer now directly owns 126,160 shares of the company’s stock, valued at $1,743,531.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,793 shares of company stock valued at $2,019,039. Insiders own 0.52% of the company’s stock.
About Regions Financial Corporation
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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