OLD National Bancorp IN increased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 23.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,078 shares of the bank’s stock after acquiring an additional 6,269 shares during the quarter. OLD National Bancorp IN’s holdings in Regions Financial Corporation were worth $504,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new stake in Regions Financial Corporation during the second quarter worth $1,259,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Regions Financial Corporation by 17.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 295,359 shares of the bank’s stock worth $4,324,000 after acquiring an additional 44,909 shares during the period. State of Alaska Department of Revenue lifted its holdings in Regions Financial Corporation by 45.6% during the second quarter. State of Alaska Department of Revenue now owns 77,823 shares of the bank’s stock worth $1,139,000 after acquiring an additional 24,390 shares during the period. Koch Industries Inc. bought a new stake in Regions Financial Corporation during the second quarter worth $614,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Regions Financial Corporation by 35.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 432,686 shares of the bank’s stock worth $6,335,000 after acquiring an additional 113,610 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.
A number of analysts recently commented on RF shares. BidaskClub lowered Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Vining Sparks upgraded Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Robert W. Baird lowered Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a report on Monday, October 2nd. FBR & Co reiterated a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.50 price target on shares of Regions Financial Corporation in a report on Friday, September 15th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.14.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. Regions Financial Corporation had a return on equity of 7.56% and a net margin of 20.14%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $0.24 EPS. Regions Financial Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.33%. Regions Financial Corporation’s dividend payout ratio is currently 37.50%.
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In related news, EVP Scott M. Peters sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total value of $396,000.00. Following the transaction, the executive vice president now directly owns 121,459 shares of the company’s stock, valued at approximately $1,923,910.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of the firm’s 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 in the company, valued at $1,811,342. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,000 shares of company stock worth $1,520,050. 0.52% of the stock is owned by insiders.
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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