Main Street Research LLC increased its position in Regions Financial Corporation (NYSE:RF) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 940,974 shares of the bank’s stock after buying an additional 38,224 shares during the period. Regions Financial Corporation comprises 2.3% of Main Street Research LLC’s investment portfolio, making the stock its 10th largest position. Main Street Research LLC owned 0.08% of Regions Financial Corporation worth $13,776,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in RF. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock worth $126,000 after buying an additional 28 shares during the last quarter. Lbmc Investment Advisors LLC increased its position in shares of Regions Financial Corporation by 0.5% in the first quarter. Lbmc Investment Advisors LLC now owns 31,795 shares of the bank’s stock valued at $462,000 after buying an additional 147 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Regions Financial Corporation by 0.3% in the first quarter. Suntrust Banks Inc. now owns 64,520 shares of the bank’s stock valued at $935,000 after buying an additional 177 shares during the last quarter. Sawtooth Solutions LLC increased its position in Regions Financial Corporation by 1.2% in the first quarter. Sawtooth Solutions LLC now owns 16,489 shares of the bank’s stock valued at $240,000 after buying an additional 198 shares in the last quarter. Finally, Southeast Asset Advisors Inc. increased its position in Regions Financial Corporation by 0.4% in the first quarter. Southeast Asset Advisors Inc. now owns 51,676 shares of the bank’s stock valued at $751,000 after buying an additional 218 shares in the last quarter. 75.30% of the stock is owned by hedge funds and other institutional investors.
Regions Financial Corporation (RF) traded up 0.69% during trading on Friday, hitting $14.49. The stock had a trading volume of 13,826,004 shares. The stock has a 50 day moving average price of $14.42 and a 200-day moving average price of $14.44. Regions Financial Corporation has a 12 month low of $8.82 and a 12 month high of $16.03. The stock has a market cap of $17.37 billion, a price-to-earnings ratio of 15.14 and a beta of 1.32.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts predict that Regions Financial Corporation will post $1.00 EPS for the current year.
Regions Financial Corporation announced that its board has authorized a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.50%. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is currently 29.47%.
A number of analysts have weighed in on the stock. UBS AG reissued a “sell” rating and set a $13.00 target price (down previously from $14.00) on shares of Regions Financial Corporation in a research report on Saturday, April 22nd. Instinet restated a “neutral” rating and set a $16.00 price target on shares of Regions Financial Corporation in a report on Wednesday, July 12th. Vining Sparks upgraded Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday. BidaskClub cut Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $17.00 target price on shares of Regions Financial Corporation in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.13.
In other news, EVP Scott M. Peters sold 13,689 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $14.61, for a total transaction of $199,996.29. Following the transaction, the executive vice president now directly owns 147,528 shares in the company, valued at approximately $2,155,384.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP C. Keith Herron sold 30,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,924,879.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,514 shares of company stock valued at $1,151,683. 0.52% of the stock is owned by company insiders.
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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