Stone Ridge Asset Management LLC increased its stake in shares of Regions Financial Corp (NYSE:RF) by 38.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,414 shares of the bank’s stock after buying an additional 35,900 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Regions Financial were worth $2,221,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in Regions Financial by 21.9% in the fourth quarter. Teacher Retirement System of Texas now owns 1,737,372 shares of the bank’s stock valued at $29,813,000 after purchasing an additional 311,871 shares during the last quarter. Stevens Capital Management LP purchased a new stake in Regions Financial in the fourth quarter valued at $4,686,000. Boston Partners boosted its holdings in Regions Financial by 4.0% in the fourth quarter. Boston Partners now owns 13,609,080 shares of the bank’s stock valued at $233,529,000 after purchasing an additional 517,604 shares during the last quarter. IndexIQ Advisors LLC boosted its holdings in Regions Financial by 27.8% in the fourth quarter. IndexIQ Advisors LLC now owns 295,704 shares of the bank’s stock valued at $5,074,000 after purchasing an additional 64,320 shares during the last quarter. Finally, Csenge Advisory Group boosted its holdings in Regions Financial by 6.3% in the fourth quarter. Csenge Advisory Group now owns 32,599 shares of the bank’s stock valued at $559,000 after purchasing an additional 1,929 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP David R. Keenan sold 30,658 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $16.73, for a total transaction of $512,908.34. Following the completion of the transaction, the executive vice president now owns 133,675 shares in the company, valued at approximately $2,236,382.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is owned by corporate insiders.
Shares of Regions Financial stock traded down $0.14 during trading hours on Friday, reaching $16.46. The stock had a trading volume of 260,892 shares, compared to its average volume of 10,116,911. The stock’s 50 day moving average is $16.37 and its 200 day moving average is $15.98. The firm has a market capitalization of $15.89 billion, a PE ratio of 10.91, a PEG ratio of 1.46 and a beta of 1.51. Regions Financial Corp has a twelve month low of $13.38 and a twelve month high of $17.54. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Regions Financial had a net margin of 23.42% and a return on equity of 10.77%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. As a group, sell-side analysts predict that Regions Financial Corp will post 1.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.62 annualized dividend and a dividend yield of 3.77%. Regions Financial’s dividend payout ratio (DPR) is presently 40.00%.
RF has been the topic of several recent research reports. Goldman Sachs Group upped their price target on shares of Regions Financial from $18.50 to $19.50 and gave the company a “buy” rating in a report on Monday, January 6th. ValuEngine lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. Odeon Capital Group lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Nomura reiterated a “hold” rating and issued a $17.00 price objective on shares of Regions Financial in a research report on Monday, January 20th. Finally, Janney Montgomery Scott upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and set a $18.50 price objective for the company in a research report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Regions Financial has an average rating of “Hold” and a consensus target price of $17.57.
Regions Financial Company Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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