Denali Advisors LLC Makes New Investment in Regions Financial Corporation $RF

Denali Advisors LLC bought a new position in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, Holdings Channel.com reports. The firm bought 17,511 shares of the bank’s stock, valued at approximately $412,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank & Trust grew its stake in shares of Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares during the last quarter. Bayforest Capital Ltd grew its stake in shares of Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after buying an additional 1,058 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Regions Financial in the 2nd quarter worth approximately $30,000. Rossby Financial LCC purchased a new stake in shares of Regions Financial in the 1st quarter worth approximately $36,000. Finally, Groupe la Francaise purchased a new stake in shares of Regions Financial in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president directly owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger W. Jenkins bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares in the company, valued at $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RF has been the topic of several recent research reports. Citigroup upped their price target on Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Cantor Fitzgerald assumed coverage on Regions Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $30.00 target price on the stock. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Evercore ISI increased their target price on Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Finally, Barclays reiterated an “underweight” rating and set a $27.00 target price (up from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of “Moderate Buy” and an average target price of $27.94.

Regions Financial Price Performance

NYSE RF opened at $24.12 on Thursday. The business’s fifty day moving average price is $26.16 and its 200-day moving average price is $23.75. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.15 and a beta of 1.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The firm had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. On average, equities analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial’s dividend payout ratio is presently 46.70%.

Regions Financial Company 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.