Fox Run Management L.L.C. lifted its holdings in Regions Financial Corporation (NYSE:RF) by 54.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,400 shares of the bank’s stock after buying an additional 13,200 shares during the period. Fox Run Management L.L.C.’s holdings in Regions Financial Corporation were worth $570,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of RF. FNY Partners Fund LP acquired a new stake in Regions Financial Corporation during the first quarter valued at $103,000. Lloyds Banking Group plc acquired a new stake in Regions Financial Corporation during the second quarter valued at $108,000. Seven Eight Capital LP acquired a new stake in Regions Financial Corporation during the second quarter valued at $111,000. Sun Life Financial INC boosted its position in Regions Financial Corporation by 98,133.3% during the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after purchasing an additional 8,832 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in Regions Financial Corporation by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after purchasing an additional 26 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on RF shares. Bank of America Corporation reissued a “buy” rating and set a $17.00 price objective on shares of Regions Financial Corporation in a research report on Wednesday, July 26th. Piper Jaffray Companies reissued a “hold” rating and set a $14.50 price objective on shares of Regions Financial Corporation in a research report on Tuesday, September 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.50 price objective on shares of Regions Financial Corporation in a research report on Friday, September 15th. Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Finally, BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.10.
Regions Financial Corporation (NYSE:RF) opened at 15.72 on Monday. The company’s 50-day moving average price is $14.75 and its 200 day moving average price is $14.35. Regions Financial Corporation has a 52 week low of $10.32 and a 52 week high of $16.03. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 16.43 and a beta of 1.34.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial Corporation had a net margin of 20.14% and a return on equity of 7.56%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. On average, analysts predict that Regions Financial Corporation will post $0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a $0.09 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.36 annualized dividend and a yield of 2.29%. Regions Financial Corporation’s dividend payout ratio is currently 37.50%.
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In other news, CFO David J. Turner, Jr. sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the transaction, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at $1,811,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott M. Peters sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total transaction of $396,000.00. Following the transaction, the executive vice president now directly owns 121,459 shares in the company, valued at $1,923,910.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,000 shares of company stock worth $1,520,050. Insiders own 0.52% of the company’s stock.
Regions Financial Corporation 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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