Hartford Investment Management Co. cut its stake in Regions Financial Corporation (NYSE:RF) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,261 shares of the bank’s stock after selling 13,188 shares during the period. Hartford Investment Management Co.’s holdings in Regions Financial Corporation were worth $4,030,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Parametrica Management Ltd bought a new stake in shares of Regions Financial Corporation during the first quarter worth $465,000. Lathrop Investment Management Corp raised its stake in shares of Regions Financial Corporation by 1.0% in the first quarter. Lathrop Investment Management Corp now owns 115,752 shares of the bank’s stock worth $1,682,000 after buying an additional 1,200 shares during the last quarter. TNB Financial bought a new stake in shares of Regions Financial Corporation during the first quarter worth $263,000. Highland Capital Management LLC raised its stake in shares of Regions Financial Corporation by 11.4% in the first quarter. Highland Capital Management LLC now owns 449,050 shares of the bank’s stock worth $6,525,000 after buying an additional 45,950 shares during the last quarter. Finally, Home Federal Bank of Tennessee raised its stake in shares of Regions Financial Corporation by 7.8% in the first quarter. Home Federal Bank of Tennessee now owns 63,850 shares of the bank’s stock worth $928,000 after buying an additional 4,606 shares during the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.
Shares of Regions Financial Corporation (RF) traded down 1.61% during mid-day trading on Friday, reaching $14.07. 18,497,346 shares of the company’s stock traded hands. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 14.70 and a beta of 1.31. The firm’s 50-day moving average is $14.53 and its 200 day moving average is $14.47. Regions Financial Corporation has a one year low of $9.14 and a one year high of $16.03.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. Analysts predict that Regions Financial Corporation will post $1.00 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.09 per share. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio is presently 29.47%.
Regions Financial Corporation announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in shares. This repurchase authorization permits the bank to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
ILLEGAL ACTIVITY WARNING: “Hartford Investment Management Co. Decreases Stake in Regions Financial Corporation (RF)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.com-unik.info/2017/08/11/regions-financial-corporation-rf-position-decreased-by-hartford-investment-management-co-updated.html.
RF has been the subject of a number of research analyst reports. Bank of America Corporation upgraded shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $17.00 in a report on Thursday, May 4th. Argus downgraded shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Monday, May 1st. Rafferty Capital Markets downgraded shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Thursday, April 20th. Jefferies Group LLC reissued a “hold” rating and set a $16.00 target price on shares of Regions Financial Corporation in a research report on Friday, May 5th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Regions Financial Corporation presently has an average rating of “Hold” and a consensus price target of $14.21.
In other news, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $15.23, for a total value of $152,300.00. Following the completion of the transaction, the director now owns 32,188 shares of the company’s stock, valued at $490,223.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.95, for a total value of $971,750.00. Following the completion of the transaction, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at approximately $1,811,342. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is owned by company insiders.
Regions Financial Corporation Company Profile
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
What are top analysts saying about Regions Financial Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Regions Financial Corporation and related companies.