ALGEBRIS UK Ltd purchased a new position in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, Holdings Channel reports. The fund purchased 382,650 shares of the bank’s stock, valued at approximately $5,602,000. Regions Financial Corporation accounts for about 0.6% of ALGEBRIS UK Ltd’s holdings, making the stock its 27th largest position.
A number of other large investors have also bought and sold shares of RF. Benjamin F. Edwards & Company Inc. boosted its stake in 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 period. IFC Holdings Incorporated FL boosted its stake in Regions Financial Corporation by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 20,289 shares of the bank’s stock worth $295,000 after buying an additional 58 shares during the period. Advisor Partners LLC boosted its stake in Regions Financial Corporation by 0.3% in the second quarter. Advisor Partners LLC now owns 20,041 shares of the bank’s stock worth $293,000 after buying an additional 59 shares during the period. Lbmc Investment Advisors LLC boosted its stake in Regions Financial Corporation by 0.5% in the first quarter. Lbmc Investment Advisors LLC now owns 31,795 shares of the bank’s stock worth $462,000 after buying an additional 147 shares during the period. Finally, Huntington National Bank boosted its stake in Regions Financial Corporation by 0.9% in the second quarter. Huntington National Bank now owns 17,347 shares of the bank’s stock worth $254,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 76.61% of the company’s stock.
Shares of Regions Financial Corporation (NYSE RF) opened at 14.06 on Friday. The firm has a market capitalization of $16.80 billion, a price-to-earnings ratio of 14.69 and a beta of 1.31. The stock’s 50 day moving average price is $14.57 and its 200 day moving average price is $14.46. Regions Financial Corporation has a 12-month low of $9.37 and a 12-month high of $16.03.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current year.
Regions Financial Corporation declared that its board has approved a stock buyback program on Wednesday, June 28th that allows the company to buyback $1.47 billion in shares. This buyback authorization allows the bank to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.56%. This is a boost 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 presently 29.47%.
A number of research firms recently weighed in on RF. UBS AG restated a “sell” rating and issued a $13.00 price target (down previously from $14.00) on shares of Regions Financial Corporation in a research note on Saturday, April 22nd. BidaskClub cut Regions Financial Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Wedbush cut Regions Financial Corporation from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Monday, May 1st. Jefferies Group LLC restated a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a research note on Friday, August 11th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $14.63.
In related news, EVP Fournier J. Gale III sold 35,825 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the transaction, the executive vice president now directly owns 109,318 shares in the company, valued at $1,594,949.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the director now owns 32,188 shares of the company’s stock, valued at $490,223.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,514 shares of company stock valued at $1,846,733. 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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