Creative Planning decreased its position in shares of Regions Financial Corporation (NYSE:RF) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,696 shares of the bank’s stock after selling 965 shares during the period. Creative Planning’s holdings in Regions Financial Corporation were worth $698,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FNY Partners Fund LP bought a new position in Regions Financial Corporation during the first quarter worth $103,000. Bronfman E.L. Rothschild L.P. boosted its position in Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock worth $104,000 after buying an additional 666 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock worth $126,000 after buying an additional 28 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in Regions Financial Corporation during the first quarter worth $146,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Regions Financial Corporation during the first quarter worth $148,000. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Regions Financial Corporation (NYSE:RF) opened at 14.07 on Friday. The stock has a 50 day moving average price of $14.54 and a 200-day moving average price of $14.47. The stock has a market cap of $16.81 billion, a PE ratio of 14.70 and a beta of 1.31. Regions Financial Corporation has a one year low of $9.28 and a one year high of $16.03.
Regions Financial Corporation (NYSE:RF) last issued its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. Regions Financial Corporation’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Equities research analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.36 annualized dividend and a yield of 2.56%. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio is currently 29.47%.
Regions Financial Corporation announced that its board has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in shares. This buyback authorization authorizes the bank to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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Several analysts recently issued reports on the company. UBS AG reissued a “sell” rating and set a $13.00 target price (down previously from $14.00) on shares of Regions Financial Corporation in a research note on Saturday, April 22nd. Jefferies Group LLC reissued a “hold” rating and set a $16.00 target price on shares of Regions Financial Corporation in a research note on Friday. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Wells Fargo & Company assumed coverage on Regions Financial Corporation in a research note on Wednesday. They set a “market perform” rating and a $16.00 target price on the stock. Finally, Vining Sparks raised Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, seventeen have issued 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 has a consensus rating of “Hold” and a consensus price target of $14.21.
In other Regions Financial Corporation news, EVP Fournier J. Gale III sold 35,825 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total value of $522,686.75. Following the completion of the sale, the executive vice president now owns 109,318 shares of the company’s stock, valued at $1,594,949.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott M. Peters sold 13,689 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total value of $199,996.29. Following the sale, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at approximately $2,155,384.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is owned by 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.
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