State of Wisconsin Investment Board grew its position in shares of Regions Financial Corporation (NYSE:RF) by 76.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 197,060 shares of the bank’s stock after buying an additional 85,645 shares during the quarter. State of Wisconsin Investment Board’s holdings in Regions Financial Corporation were worth $3,001,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp purchased a new position in Regions Financial Corporation during the 2nd quarter worth $1,259,000. Koch Industries Inc. purchased a new position in shares of Regions Financial Corporation in the 2nd quarter valued at about $614,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Regions Financial Corporation by 17.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 295,359 shares of the bank’s stock valued at $4,324,000 after purchasing an additional 44,909 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Regions Financial Corporation by 35.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 432,686 shares of the bank’s stock valued at $6,335,000 after purchasing an additional 113,610 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Regions Financial Corporation by 4.8% in the 2nd quarter. Synovus Financial Corp now owns 155,071 shares of the bank’s stock valued at $2,272,000 after purchasing an additional 7,078 shares in the last quarter. Institutional investors own 77.39% of the company’s stock.
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Shares of Regions Financial Corporation (NYSE RF) opened at $15.66 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.85 and a quick ratio of 0.84. Regions Financial Corporation has a 12-month low of $12.98 and a 12-month high of $16.03. The stock has a market cap of $18,397.14, a P/E ratio of 16.52, a P/E/G ratio of 1.44 and a beta of 1.29.
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 given a $0.09 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.30%. Regions Financial Corporation’s dividend payout ratio is presently 37.50%.
A number of equities analysts have recently issued reports on RF shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 price target on shares of Regions Financial Corporation in a report on Friday, September 15th. J P Morgan Chase & Co increased their price target on shares of Regions Financial Corporation from $15.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Citigroup Inc. reiterated a “neutral” rating and issued a $16.00 price target (up previously from $15.00) on shares of Regions Financial Corporation in a report on Monday, October 9th. Goldman Sachs Group, Inc. (The) upgraded shares of Regions Financial Corporation from a “buy” rating to a “conviction-buy” rating in a report on Thursday, November 16th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a report on Wednesday, October 25th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $15.31.
In related news, EVP Scott M. Peters sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 121,459 shares in the company, valued at $1,923,910.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John B. Owen sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total transaction of $626,800.00. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
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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