Regions Financial Corporation (NYSE:RF) Shares Bought by Vicus Capital

Vicus Capital increased its position in shares of Regions Financial Corporation (NYSE:RF) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,160 shares of the bank’s stock after buying an additional 226 shares during the period. Vicus Capital’s holdings in Regions Financial Corporation were worth $676,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Regions Financial Corporation by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock valued at $395,848,000 after buying an additional 2,985,752 shares in the last quarter. Toronto Dominion Bank boosted its position in Regions Financial Corporation by 53.9% in the first quarter. Toronto Dominion Bank now owns 326,968 shares of the bank’s stock valued at $4,750,000 after buying an additional 114,483 shares during the last quarter. Trexquant Investment LP boosted its position in Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock valued at $2,345,000 after buying an additional 33,700 shares during the last quarter. Macquarie Group Ltd. boosted its position in Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock valued at $638,000 after buying an additional 14,525 shares during the last quarter. Finally, Elkfork Partners LLC boosted its stake in shares of Regions Financial Corporation by 96.9% in the first quarter. Elkfork Partners LLC now owns 809,160 shares of the bank’s stock worth $11,757,000 after buying an additional 398,112 shares in the last quarter. 75.46% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Corporation (NYSE RF) traded up 0.68% during mid-day trading on Wednesday, hitting $14.79. 10,558,413 shares of the stock were exchanged. The company has a 50 day moving average of $14.44 and a 200 day moving average of $14.44. The firm has a market cap of $17.73 billion, a P/E ratio of 15.45 and a beta of 1.32. Regions Financial Corporation has a 12-month low of $8.88 and a 12-month high of $16.03.

Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.45%. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio (DPR) is presently 29.47%.

Regions Financial Corporation declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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RF has been the subject of a number of research reports. Bank of America Corporation raised shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.00 to $17.00 in a report on Thursday, May 4th. Argus lowered shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Monday, May 1st. Rafferty Capital Markets lowered shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Thursday, April 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a research report on Friday, May 5th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.13.

In other Regions Financial Corporation news, EVP C. Keith Herron sold 30,000 shares of the firm’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 sale, the executive vice president now directly owns 204,537 shares of the company’s stock, valued at approximately $2,924,879.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott M. Peters sold 13,689 shares of Regions Financial Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total value of $199,996.29. Following the completion of the transaction, the executive vice president now directly owns 147,528 shares in the company, valued at $2,155,384.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,514 shares of company stock worth $1,151,683. 0.52% of the stock is owned by corporate 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.