Sapphire Star Partners LP maintained its stake in Regions Financial Corporation (NYSE:RF) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,500 shares of the bank’s stock at the end of the second quarter. Sapphire Star Partners LP’s holdings in Regions Financial Corporation were worth $154,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Regions Financial Corporation by 2.2% in the first quarter. Vanguard Group Inc. now owns 132,731,086 shares of the bank’s stock valued at $1,928,583,000 after buying an additional 2,860,634 shares in the last quarter. BlackRock Inc. boosted its stake in Regions Financial Corporation by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after buying an additional 89,604,919 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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. Dimensional Fund Advisors LP boosted its stake in 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 valued at $202,193,000 after buying an additional 403,258 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in 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 valued at $201,002,000 after buying an additional 1,031,540 shares in the last quarter. 75.47% of the stock is owned by institutional investors and hedge funds.
Regions Financial Corporation (RF) traded down 0.56% during midday trading on Friday, hitting $14.23. The stock had a trading volume of 19,775,337 shares. The firm has a 50 day moving average price of $14.30 and a 200 day moving average price of $14.44. Regions Financial Corporation has a one year low of $8.82 and a one year high of $16.03. The stock has a market cap of $17.06 billion, a PE ratio of 14.87 and a beta of 1.32.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a net margin of 19.94% and a return on equity of 7.27%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $0.20 earnings per share. Regions Financial Corporation’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that Regions Financial Corporation will post $0.99 EPS for the current year.
Regions Financial Corporation declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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RF has been the subject of several recent analyst reports. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Bank of America Corporation raised Regions Financial Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $17.00 in a report on Thursday, May 4th. Royal Bank Of Canada reissued a “hold” rating and issued a $15.00 price target on shares of Regions Financial Corporation in a report on Friday, June 23rd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.50 price target on shares of Regions Financial Corporation in a report on Wednesday, April 19th. Finally, Goldman Sachs Group, Inc. (The) dropped their price objective on Regions Financial Corporation to $17.00 and set a “buy” rating for the company in a research note on Thursday, March 30th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.13.
In other news, CFO David J. Turner, Jr. sold 45,535 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $13.82, for a total value of $629,293.70. Following the transaction, the chief financial officer now directly owns 126,160 shares of the company’s stock, valued at $1,743,531.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP C. Keith Herron sold 30,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $14.30, for a total transaction of $429,000.00. Following the completion of the transaction, the executive vice president now directly owns 204,537 shares in the company, valued at $2,924,879.10. The disclosure for this sale can be found here. Insiders sold 144,793 shares of company stock worth $2,019,039 over the last ninety days. 0.52% of the stock is currently 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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