LSV Asset Management trimmed its stake in Regions Financial Co. (NYSE:RF) by 7.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 21,437,225 shares of the bank’s stock after selling 1,676,900 shares during the quarter. LSV Asset Management’s holdings in Regions Financial were worth $247,171,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kore Private Wealth LLC raised its position in shares of Regions Financial by 442.8% in the 2nd quarter. Kore Private Wealth LLC now owns 3,235 shares of the bank’s stock worth $35,000 after purchasing an additional 2,639 shares during the last quarter. Provident Wealth Management LLC bought a new position in shares of Regions Financial in the third quarter worth approximately $35,000. CSat Investment Advisory L.P. grew its holdings in shares of Regions Financial by 36.0% during the second quarter. CSat Investment Advisory L.P. now owns 5,059 shares of the bank’s stock valued at $56,000 after buying an additional 1,338 shares during the last quarter. Ellevest Inc. grew its holdings in shares of Regions Financial by 332.0% during the second quarter. Ellevest Inc. now owns 5,586 shares of the bank’s stock valued at $62,000 after buying an additional 4,293 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Regions Financial by 65.5% during the second quarter. Rockefeller Capital Management L.P. now owns 5,787 shares of the bank’s stock valued at $64,000 after acquiring an additional 2,291 shares in the last quarter. 73.35% of the stock is currently owned by hedge funds and other institutional investors.
Regions Financial stock traded down $0.38 during mid-day trading on Monday, hitting $13.40. The stock had a trading volume of 217,849 shares, compared to its average volume of 11,247,292. Regions Financial Co. has a one year low of $6.94 and a one year 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 0.40. The firm has a market capitalization of $13.23 billion, a P/E ratio of 17.44, a P/E/G ratio of 3.63 and a beta of 1.60. The firm’s 50 day moving average is $11.97 and its 200 day moving average is $11.13.
Regions Financial (NYSE:RF) last released its quarterly earnings data on Tuesday, October 20th. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. Regions Financial had a return on equity of 5.10% and a net margin of 11.32%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts forecast that Regions Financial Co. will post 0.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 4th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $0.62 annualized dividend and a yield of 4.63%. Regions Financial’s payout ratio is 40.00%.
Several analysts have commented on RF shares. Credit Suisse Group increased their target price on Regions Financial from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. ValuEngine raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Wolfe Research started coverage on Regions Financial in a research report on Friday, July 31st. They issued an “outperform” rating for the company. Odeon Capital Group upgraded shares of Regions Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, September 15th. Finally, SunTrust Banks reduced their price target on shares of Regions Financial from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $13.33.
Regions Financial Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. 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; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
Featured Story: What is the LIBOR?
Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Co. (NYSE:RF).
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.