ArrowMark Colorado Holdings LLC reduced its position in Regions Financial Corp (NYSE:RF) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,500 shares of the bank’s stock after selling 4,500 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Regions Financial were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dynamic Capital Management Ltd acquired a new position in Regions Financial during the fourth quarter worth $657,000. JOYN Advisors Inc. acquired a new position in Regions Financial during the fourth quarter worth $508,000. Folger Hill Asset Management LP acquired a new position in Regions Financial during the fourth quarter worth $1,286,000. Nomura Asset Management Co. Ltd. raised its position in Regions Financial by 4.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 191,151 shares of the bank’s stock worth $3,303,000 after acquiring an additional 7,940 shares during the period. Finally, Thrivent Financial For Lutherans raised its position in Regions Financial by 268.5% during the fourth quarter. Thrivent Financial For Lutherans now owns 226,201 shares of the bank’s stock worth $3,909,000 after acquiring an additional 164,825 shares during the period. Hedge funds and other institutional investors own 75.45% of the company’s stock.
Shares of Regions Financial Corp (NYSE RF) opened at $20.11 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.86 and a quick ratio of 0.86. Regions Financial Corp has a 1-year low of $13.00 and a 1-year high of $20.14. The stock has a market cap of $22,574.78, a PE ratio of 20.11, a P/E/G ratio of 1.50 and a beta of 1.27.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, March 8th. Regions Financial’s dividend payout ratio is currently 36.00%.
In related news, EVP Ronald G. Smith sold 92,301 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $19.32, for a total value of $1,783,255.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott M. Peters sold 25,627 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total transaction of $499,726.50. Following the completion of the sale, the executive vice president now directly owns 240,796 shares of the company’s stock, valued at approximately $4,695,522. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
RF has been the subject of a number of research analyst reports. Goldman Sachs Group upgraded shares of Regions Financial from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, November 16th. Barclays upped their price objective on shares of Regions Financial from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. SunTrust Banks restated a “buy” rating and set a $19.00 price objective on shares of Regions Financial in a research report on Wednesday, November 29th. Robert W. Baird restated a “sell” rating and set a $17.00 price objective on shares of Regions Financial in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada restated a “hold” rating and set a $18.00 price objective on shares of Regions Financial in a research report on Sunday, January 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.24.
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Regions Financial 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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