Captrust Financial Advisors purchased a new position in Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,508 shares of the bank’s stock, valued at approximately $139,000.
Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted 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 worth $395,848,000 after buying an additional 2,985,752 shares during the last quarter. Trexquant Investment LP lifted its position in shares of Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock worth $2,345,000 after buying an additional 33,700 shares during the last quarter. WESPAC Advisors LLC acquired a new stake in shares of Regions Financial Corporation in the first quarter worth about $352,000. Bailard Inc. lifted its position in shares of Regions Financial Corporation by 602.4% in the first quarter. Bailard Inc. now owns 134,309 shares of the bank’s stock worth $1,952,000 after buying an additional 115,187 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Regions Financial Corporation in the first quarter worth about $56,133,000. 75.61% of the stock is owned by institutional investors.
RF has been the subject of a number of analyst reports. Bank of America Corporation reaffirmed a “buy” rating and issued a $17.00 price target on shares of Regions Financial Corporation in a research report on Wednesday, July 26th. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price target on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 price target on Regions Financial Corporation and gave the stock a “hold” rating in a research report on Tuesday, June 20th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $14.89.
Regions Financial Corporation (RF) opened at 13.75 on Friday. The company’s 50-day moving average price is $14.20 and its 200 day moving average price is $14.31. Regions Financial Corporation has a 52 week low of $9.45 and a 52 week high of $16.03. The company has a market capitalization of $16.43 billion, a price-to-earnings ratio of 14.37 and a beta of 1.33.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business’s revenue for the quarter 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. On average, analysts predict that Regions Financial Corporation will post $1.00 EPS for the current year.
Regions Financial Corporation declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to buyback $1.47 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, September 7th. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 2.62%. Regions Financial Corporation’s dividend payout ratio (DPR) is 37.89%.
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In other Regions Financial Corporation news, Director Susan W. Matlock sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $15.23, for a total transaction of $152,300.00. Following the completion of the sale, the director now directly owns 32,188 shares in the company, valued at $490,223.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fournier J. Gale III sold 35,825 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction of $522,686.75. Following the sale, the executive vice president now owns 109,318 shares of the company’s stock, valued at $1,594,949.62. The disclosure for this sale can be found here. Insiders have sold 124,514 shares of company stock valued at $1,846,733 over the last 90 days. Company insiders own 0.52% of the company’s stock.
Regions Financial Corporation 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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