Atlantic Trust Group LLC reduced its holdings in shares of Regions Financial Corporation (NYSE:RF) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,988 shares of the bank’s stock after selling 1,900 shares during the quarter. Atlantic Trust Group LLC’s holdings in Regions Financial Corporation were worth $966,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. FNY Partners Fund LP bought a new stake in Regions Financial Corporation in the 1st quarter valued at $103,000. Bronfman E.L. Rothschild L.P. boosted its stake in Regions Financial Corporation by 10.2% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock valued at $104,000 after purchasing an additional 666 shares during the period. Lloyds Banking Group plc bought a new stake in Regions Financial Corporation in the 2nd quarter valued at $108,000. Benjamin F. Edwards & Company Inc. boosted its stake in Regions Financial Corporation by 0.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock valued at $126,000 after purchasing an additional 28 shares during the period. Finally, Cornerstone Wealth Management LLC bought a new stake in Regions Financial Corporation in the 1st quarter valued at $146,000. Institutional investors own 75.61% of the company’s stock.
Regions Financial Corporation (NYSE:RF) opened at 13.26 on Monday. The company has a market capitalization of $15.85 billion, a price-to-earnings ratio of 13.86 and a beta of 1.33. Regions Financial Corporation has a 12-month low of $9.37 and a 12-month high of $16.03. The stock has a 50 day moving average price of $14.31 and a 200-day moving average price of $14.37.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. Regions Financial Corporation’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. Equities analysts predict that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
Regions Financial Corporation declared that its board has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in shares. This buyback authorization authorizes the bank to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.71%. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio is 37.89%.
Several analysts recently issued reports on RF shares. BidaskClub downgraded Regions Financial Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Vining Sparks raised Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $14.50 price objective on shares of Regions Financial Corporation in a report on Thursday, August 17th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Regions Financial Corporation in a report on Friday, June 23rd. Finally, Keefe, Bruyette & Woods set a $15.00 price objective on Regions Financial Corporation and gave the company a “hold” rating in a report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.63.
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In other Regions Financial Corporation news, CFO David J. Turner, Jr. sold 65,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the transaction, the chief financial officer now owns 121,160 shares of the company’s stock, valued at approximately $1,811,342. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott M. Peters sold 13,689 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total transaction of $199,996.29. Following the transaction, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at approximately $2,155,384.08. The disclosure for this sale can be found here. Insiders sold a total of 124,514 shares of company stock valued at $1,846,733 over the last 90 days. 0.52% of the stock is currently owned by company insiders.
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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