Macquarie Group Ltd. raised its position in Regions Financial Corp. (NYSE:RF) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 50,175 shares of the company’s stock after buying an additional 11 shares during the period. Macquarie Group Ltd.’s holdings in Regions Financial Corp. were worth $427,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in RF. Acadian Asset Management LLC acquired a new position in Regions Financial Corp. during the first quarter worth approximately $470,000. Aperio Group LLC increased its position in Regions Financial Corp. by 29.8% in the first quarter. Aperio Group LLC now owns 759,912 shares of the company’s stock worth $5,965,000 after buying an additional 174,589 shares in the last quarter. Pacad Investment Ltd. increased its position in Regions Financial Corp. by 135.4% in the first quarter. Pacad Investment Ltd. now owns 280,913 shares of the company’s stock worth $2,205,000 after buying an additional 161,600 shares in the last quarter. Teachers Advisors Inc. increased its position in Regions Financial Corp. by 2.6% in the first quarter. Teachers Advisors Inc. now owns 6,152,827 shares of the company’s stock worth $48,300,000 after buying an additional 155,841 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Regions Financial Corp. by 5.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,010,738 shares of the company’s stock worth $282,684,000 after buying an additional 1,878,532 shares in the last quarter. 74.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Regions Financial Corp. (NYSE:RF) opened at 9.83 on Thursday. The company has a 50 day moving average price of $9.69 and a 200 day moving average price of $9.09. Regions Financial Corp. has a 52 week low of $7.00 and a 52 week high of $10.28. The company has a market cap of $12.34 billion, a PE ratio of 12.36 and a beta of 1.64.
Regions Financial Corp. (NYSE:RF) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. On average, equities analysts expect that Regions Financial Corp. will post $0.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a dividend of $0.065 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.64%. Regions Financial Corp.’s payout ratio is presently 32.91%.
A number of equities analysts have commented on RF shares. Vetr downgraded shares of Regions Financial Corp. from a “buy” rating to a “hold” rating and set a $10.25 price objective for the company. in a report on Wednesday, June 1st. Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corp. in a report on Saturday, June 4th. Keefe, Bruyette & Woods raised shares of Regions Financial Corp. from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $9.50 to $11.00 in a report on Monday, June 6th. Bank of America Corp. downgraded shares of Regions Financial Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Finally, TheStreet downgraded shares of Regions Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven 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 “Buy” and a consensus price target of $10.31.
In other Regions Financial Corp. news, EVP Ellen S. Jones sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $9.53, for a total value of $95,300.00. Following the completion of the transaction, the executive vice president now directly owns 54,886 shares in the company, valued at $523,063.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott M. Peters sold 23,391 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $9.73, for a total value of $227,594.43. Following the completion of the transaction, the executive vice president now owns 201,391 shares of the company’s stock, valued at $1,959,534.43. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
About Regions Financial Corp.
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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