Tredje AP fonden raised its holdings in shares of Regions Financial Corp (NYSE:RF) by 37.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,901 shares of the bank’s stock after purchasing an additional 7,262 shares during the quarter. Tredje AP fonden’s holdings in Regions Financial were worth $384,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Crossmark Global Holdings Inc. increased its position in shares of Regions Financial by 0.7% in the first quarter. Crossmark Global Holdings Inc. now owns 98,745 shares of the bank’s stock worth $1,397,000 after purchasing an additional 660 shares during the period. Aldebaran Financial Inc. grew its position in Regions Financial by 0.8% in the first quarter. Aldebaran Financial Inc. now owns 86,106 shares of the bank’s stock valued at $1,218,000 after acquiring an additional 678 shares during the last quarter. Avestar Capital LLC grew its position in Regions Financial by 7.6% in the first quarter. Avestar Capital LLC now owns 10,804 shares of the bank’s stock valued at $137,000 after acquiring an additional 762 shares during the last quarter. BB&T Securities LLC grew its position in Regions Financial by 0.8% in the fourth quarter. BB&T Securities LLC now owns 91,227 shares of the bank’s stock valued at $1,220,000 after acquiring an additional 767 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management grew its position in Regions Financial by 3.9% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 20,740 shares of the bank’s stock valued at $293,000 after acquiring an additional 775 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE RF traded up $0.04 during midday trading on Wednesday, hitting $14.43. 10,042,879 shares of the stock traded hands, compared to its average volume of 12,292,276. The company has a market capitalization of $14.70 billion, a P/E ratio of 10.61, a PEG ratio of 1.12 and a beta of 1.51. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $14.38. Regions Financial Corp has a one year low of $12.39 and a one year high of $19.99.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Regions Financial had a return on equity of 10.76% and a net margin of 26.38%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. Research analysts predict that Regions Financial Corp will post 1.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.56 dividend on an annualized basis and a yield of 3.88%. Regions Financial’s dividend payout ratio (DPR) is 41.18%.
A number of research analysts have issued reports on RF shares. Sandler O’Neill cut Regions Financial from a “buy” rating to a “hold” rating and set a $16.41 target price on the stock. in a research report on Thursday, February 28th. Wedbush lifted their price target on Regions Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, February 28th. BMO Capital Markets initiated coverage on Regions Financial in a research note on Tuesday, March 12th. They set an “outperform” rating and a $17.00 price target on the stock. ValuEngine lowered Regions Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Finally, Nomura raised Regions Financial from a “reduce” rating to a “neutral” rating and set a $14.00 price target on the stock in a research note on Friday, March 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $17.66.
In other news, COO John B. Owen sold 61,756 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $15.25, for a total transaction of $941,779.00. Following the transaction, the chief operating officer now directly owns 127,152 shares in the company, valued at approximately $1,939,068. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott M. Peters sold 30,877 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $15.19, for a total value of $469,021.63. Following the transaction, the executive vice president now owns 50,486 shares in the company, valued at $766,882.34. The disclosure for this sale can be found here. Insiders have sold a total of 123,510 shares of company stock worth $1,889,394 in the last three months. 0.28% of the stock is currently owned by insiders.
About Regions Financial
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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