Global X Management Co LLC Acquires 6,251 Shares of Regions Financial Corp (RF)

Global X Management Co LLC boosted its holdings in shares of Regions Financial Corp (NYSE:RF) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,198 shares of the bank’s stock after acquiring an additional 6,251 shares during the period. Global X Management Co LLC’s holdings in Regions Financial were worth $981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Verition Fund Management LLC lifted its position in shares of Regions Financial by 165.8% during the second quarter. Verition Fund Management LLC now owns 97,418 shares of the bank’s stock valued at $1,732,000 after buying an additional 60,764 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Regions Financial during the second quarter valued at about $598,000. Highlander Capital Management LLC lifted its position in shares of Regions Financial by 190.4% during the second quarter. Highlander Capital Management LLC now owns 44,613 shares of the bank’s stock valued at $793,000 after buying an additional 29,250 shares during the last quarter. Millennium Management LLC lifted its position in shares of Regions Financial by 52.7% during the second quarter. Millennium Management LLC now owns 19,743,411 shares of the bank’s stock valued at $351,038,000 after buying an additional 6,813,530 shares during the last quarter. Finally, Soros Fund Management LLC lifted its position in shares of Regions Financial by 31.3% during the second quarter. Soros Fund Management LLC now owns 651,839 shares of the bank’s stock valued at $11,590,000 after buying an additional 155,218 shares during the last quarter. Institutional investors own 74.75% of the company’s stock.

In other Regions Financial news, Director Susan W. Matlock sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $18.50, for a total transaction of $444,000.00. Following the completion of the transaction, the director now directly owns 14,914 shares of the company’s stock, valued at approximately $275,909. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP C. Keith Herron sold 23,186 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $18.76, for a total transaction of $434,969.36. Following the transaction, the executive vice president now directly owns 204,537 shares of the company’s stock, valued at $3,837,114.12. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

Shares of Regions Financial stock opened at $18.94 on Thursday. The company has a market capitalization of $21.27 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.09 and a beta of 1.26. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.66. Regions Financial Corp has a 52 week low of $14.62 and a 52 week high of $20.21.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 20th. The bank reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a net margin of 22.77% and a return on equity of 9.46%. Regions Financial’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. analysts expect that Regions Financial Corp will post 1.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be given a $0.14 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.09. This represents a $0.56 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Thursday, September 6th. Regions Financial’s dividend payout ratio (DPR) is presently 56.00%.

Several research firms have commented on RF. Robert W. Baird raised shares of Regions Financial from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. Royal Bank of Canada raised shares of Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price target for the company in a research report on Monday, June 18th. ValuEngine lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Finally, Wedbush set a $22.00 price target on shares of Regions Financial and gave the company a “buy” rating in a research report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Regions Financial has an average rating of “Hold” and a consensus target price of $17.57.

Regions Financial Company Profile

Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.

Read More: Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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