Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Regions Financial Corporation (NYSE:RF) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,442,522 shares of the bank’s stock after selling 49,067 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.21% of Regions Financial worth $37,200,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Lloyds Banking Group plc acquired a new stake in shares of Regions Financial in the second quarter worth $108,000. Seven Eight Capital LP acquired a new stake in shares of Regions Financial in the second quarter worth $111,000. Sun Life Financial INC increased its position in shares of Regions Financial by 98,133.3% in the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after acquiring an additional 8,832 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Regions Financial by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after acquiring an additional 26 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Regions Financial in the second quarter worth $139,000. 75.70% of the stock is owned by hedge funds and other institutional investors.
In other Regions Financial news, EVP John B. Owen sold 40,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total transaction of $626,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott M. Peters sold 25,000 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.84, for a total transaction 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 disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
Regions Financial (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 Zacks’ consensus estimate of $0.25. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Regions Financial 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 last year, the business earned $0.24 EPS. analysts forecast that Regions Financial Corporation will post 0.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 7th. Regions Financial’s payout ratio is 37.50%.
Several equities research analysts have recently issued reports on the stock. Jefferies Group reissued a “hold” rating and issued a $16.00 price objective on shares of Regions Financial in a research report on Friday, August 11th. SunTrust Banks reissued a “buy” rating and issued a $19.00 price objective on shares of Regions Financial in a research report on Wednesday, November 29th. Royal Bank Of Canada reissued a “hold” rating and issued a $16.00 price objective on shares of Regions Financial in a research report on Wednesday, October 25th. Piper Jaffray Companies reissued a “hold” rating and issued a $14.50 price objective on shares of Regions Financial in a research report on Thursday, August 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.50 price objective on shares of Regions Financial in a research report on Wednesday, August 16th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.60.
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About Regions Financial
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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