Lakeview Capital Partners LLC acquired a new position in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, Holdings Channel reports. The institutional investor acquired 16,102 shares of the bank’s stock, valued at approximately $236,000.
Several other large investors have also recently made changes to their positions in RF. FNY Partners Fund LP purchased a new stake in shares of Regions Financial Corporation during the first quarter worth approximately $103,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock valued at $104,000 after buying an additional 666 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock valued at $126,000 after buying an additional 28 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Regions Financial Corporation during the first quarter valued at about $146,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Regions Financial Corporation during the first quarter valued at about $148,000. 75.40% of the stock is currently owned by institutional investors.
Shares of Regions Financial Corporation (NYSE RF) opened at 14.87 on Tuesday. Regions Financial Corporation has a 1-year low of $8.88 and a 1-year high of $16.03. The stock has a 50 day moving average of $14.44 and a 200 day moving average of $14.44. The firm has a market cap of $17.83 billion, a PE ratio of 15.54 and a beta of 1.31.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.09 per share. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.42%. Regions Financial Corporation’s payout ratio is 29.47%.
Regions Financial Corporation announced that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $1.47 billion in shares. This repurchase authorization authorizes the bank to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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Several research analysts have recently issued reports on RF shares. Bank of America Corporation upgraded shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.00 to $17.00 in a report on Thursday, May 4th. Argus cut shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a report on Monday, May 1st. Rafferty Capital Markets cut shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a report on Thursday, April 20th. Jefferies Group LLC restated a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a report on Friday, May 5th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.13.
In related news, EVP Scott M. Peters sold 13,689 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total value of $199,996.29. Following the completion of the sale, the executive vice president now owns 147,528 shares of the company’s stock, valued at $2,155,384.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fournier J. Gale III sold 35,825 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the sale, the executive vice president now directly owns 109,318 shares of the company’s stock, valued at approximately $1,594,949.62. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Regions Financial Corporation Company 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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