California Public Employees Retirement System trimmed its position in shares of Regions Financial Corporation (NYSE:RF) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,208,656 shares of the bank’s stock after selling 8,469 shares during the period. California Public Employees Retirement System owned 0.36% of Regions Financial worth $64,098,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Seven Eight Capital LP bought a new position in Regions Financial during the second quarter valued at $111,000. Sun Life Financial INC grew its holdings in Regions Financial by 98,133.3% during the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after purchasing an additional 8,832 shares during the period. Salem Investment Counselors Inc. grew its holdings in Regions Financial by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after purchasing an additional 26 shares during the period. Captrust Financial Advisors bought a new position in Regions Financial during the second quarter valued at $139,000. Finally, Pax World Management LLC bought a new position in Regions Financial during the third quarter valued at $154,000. 75.70% of the stock is owned by institutional investors and hedge funds.
In other Regions Financial news, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total transaction of $255,600.00. Following the sale, the director now owns 59,436 shares in the company, valued at $1,012,789.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott M. Peters sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $15.84, for a total value of $396,000.00. Following the sale, the executive vice president now owns 121,459 shares in the company, valued at approximately $1,923,910.56. The disclosure for this sale can be found here. Insiders sold 80,000 shares of company stock worth $1,278,400 in the last quarter. 0.52% of the stock is currently owned by company insiders.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.25. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. sell-side analysts predict that Regions Financial Corporation will post 0.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.11%. Regions Financial’s dividend payout ratio (DPR) is presently 37.89%.
Several equities analysts have weighed in on the company. UBS raised Regions Financial from a “sell” rating to a “neutral” rating and increased their price objective for the company from $15.00 to $18.00 in a report on Tuesday. Royal Bank of Canada reissued a “hold” rating and set a $16.00 price objective on shares of Regions Financial in a report on Wednesday, October 25th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $14.50 price target on shares of Regions Financial in a report on Thursday, August 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.50 price target on shares of Regions Financial in a report on Wednesday, August 16th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $19.00 price target on shares of Regions Financial in a report on Wednesday, November 29th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Regions Financial currently has an average rating of “Hold” and a consensus target price of $15.88.
Regions Financial 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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