IFP Advisors Inc increased its stake in shares of Regions Financial Corporation (NYSE:RF) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,728 shares of the bank’s stock after purchasing an additional 14,508 shares during the quarter. IFP Advisors Inc’s holdings in Regions Financial Corporation were worth $2,189,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of RF. Boston Partners lifted its holdings in shares of Regions Financial Corporation by 506.1% during the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock worth $475,815,000 after purchasing an additional 27,138,273 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Regions Financial Corporation by 8,065.3% during the second quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock worth $191,306,000 after purchasing an additional 12,907,276 shares during the period. Samlyn Capital LLC lifted its holdings in shares of Regions Financial Corporation by 63.0% during the second quarter. Samlyn Capital LLC now owns 9,074,895 shares of the bank’s stock worth $132,856,000 after purchasing an additional 3,506,995 shares during the period. Shapiro Capital Management LLC acquired a new stake in shares of Regions Financial Corporation during the second quarter worth $47,308,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Regions Financial Corporation by 66.2% during the second quarter. Parametric Portfolio Associates LLC now owns 6,319,165 shares of the bank’s stock worth $92,513,000 after purchasing an additional 2,517,411 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.
RF has been the subject of a number of recent analyst reports. FBR & Co reissued a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a report on Wednesday, October 25th. J P Morgan Chase & Co raised their target price on Regions Financial Corporation from $15.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.50 target price on shares of Regions Financial Corporation in a report on Friday, September 15th. Bank of America Corporation reissued a “buy” rating and issued a $17.00 target price on shares of Regions Financial Corporation in a report on Wednesday, July 26th. Finally, BidaskClub downgraded Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $15.14.
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In other news, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the sale, 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 document filed with the SEC, which is available at the SEC website. Also, EVP Scott M. Peters sold 25,000 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.84, for a total value of $396,000.00. Following the sale, the executive vice president now directly owns 121,459 shares of the company’s stock, valued at $1,923,910.56. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Regions Financial Corporation had a return on equity of 7.56% and a net margin of 20.14%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the business posted $0.24 earnings per share. Regions Financial Corporation’s revenue 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. Stockholders of record on Friday, December 8th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, December 7th. Regions Financial Corporation’s dividend payout ratio is 37.50%.
About Regions Financial Corporation
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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