Oakworth Capital Inc. decreased its position in Regions Financial Corporation (NYSE:RF) by 11.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,649 shares of the bank’s stock after selling 14,639 shares during the period. Regions Financial Corporation accounts for approximately 0.5% of Oakworth Capital Inc.’s portfolio, making the stock its 26th largest position. Oakworth Capital Inc.’s holdings in Regions Financial Corporation were worth $1,678,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in RF. Vanguard Group Inc. increased its position in shares of Regions Financial Corporation by 2.2% in the first quarter. Vanguard Group Inc. now owns 132,731,086 shares of the bank’s stock worth $1,928,583,000 after buying an additional 2,860,634 shares during the period. BlackRock Inc. raised its stake in shares of Regions Financial Corporation by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock worth $1,343,545,000 after buying an additional 89,604,919 shares during the period. JPMorgan Chase & Co. raised its stake 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 worth $395,848,000 after buying an additional 2,985,752 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Regions Financial Corporation by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 13,915,066 shares of the bank’s stock worth $202,193,000 after buying an additional 403,258 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Regions Financial Corporation by 8.0% in the first quarter. Geode Capital Management LLC now owns 13,850,291 shares of the bank’s stock worth $201,002,000 after buying an additional 1,031,540 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Regions Financial Corporation (NYSE RF) traded down 1.61% during trading on Friday, hitting $14.07. The stock had a trading volume of 18,741,361 shares. The company has a market cap of $16.81 billion, a P/E ratio of 14.70 and a beta of 1.31. Regions Financial Corporation has a 12 month low of $9.28 and a 12 month high of $16.03. The stock has a 50-day moving average price of $14.54 and a 200 day moving average price of $14.47.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. Regions Financial Corporation’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.20 earnings per share. Equities analysts expect that Regions Financial Corporation will post $1.00 EPS 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 issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.56%. This is an increase 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 payout ratio is 29.47%.
Regions Financial Corporation declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization authorizes the bank to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
RF has been the topic of a number of analyst reports. BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Bank of America Corporation raised shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $15.00 to $17.00 in a report on Thursday, May 4th. Vining Sparks raised shares of Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 price objective on shares of Regions Financial Corporation in a report on Friday, June 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.50 price objective on shares of Regions Financial Corporation in a report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Regions Financial Corporation currently has an average rating of “Hold” and a consensus price target of $14.21.
In other news, Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $15.23, for a total value of $152,300.00. Following the completion of the sale, the director now directly owns 32,188 shares of the company’s stock, valued at approximately $490,223.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the completion of the sale, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at $1,811,342. The disclosure for this sale can be found here. Insiders have sold a total of 124,514 shares of company stock valued at $1,846,733 over the last ninety days. 0.52% of the stock is owned by company insiders.
Regions Financial Corporation Company 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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