Meeder Asset Management Inc. decreased its position in shares of Regions Financial Corp. (NYSE:RF) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,326 shares of the company’s stock after selling 5,142 shares during the period. Meeder Asset Management Inc.’s holdings in Regions Financial Corp. were worth $2,640,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in RF. AXA acquired a new stake in shares of Regions Financial Corp. during the first quarter worth $5,708,000. Pictet Asset Management Ltd. raised its position in Regions Financial Corp. by 1.5% in the first quarter. Pictet Asset Management Ltd. now owns 699,663 shares of the company’s stock worth $5,262,000 after buying an additional 10,100 shares during the last quarter. Rafferty Asset Management LLC raised its position in Regions Financial Corp. by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 176,866 shares of the company’s stock worth $1,388,000 after buying an additional 58,290 shares during the last quarter. Lumbard & Kellner LLC raised its position in Regions Financial Corp. by 0.8% in the first quarter. Lumbard & Kellner LLC now owns 301,350 shares of the company’s stock worth $2,366,000 after buying an additional 2,275 shares during the last quarter. Finally, ING Groep NV raised its position in Regions Financial Corp. by 9,978.5% in the first quarter. ING Groep NV now owns 1,622,538 shares of the company’s stock worth $12,721,000 after buying an additional 1,606,439 shares during the last quarter. 74.29% of the stock is owned by institutional investors and hedge funds.
Regions Financial Corp. (NYSE:RF) traded up 2.07% on Friday, hitting $9.87. 15,485,470 shares of the stock were exchanged. The stock has a market capitalization of $12.39 billion, a P/E ratio of 12.42 and a beta of 1.64. Regions Financial Corp. has a one year low of $7.00 and a one year high of $10.28. The company has a 50 day moving average of $9.72 and a 200 day moving average of $9.11.
Regions Financial Corp. (NYSE:RF) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. The business 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 research analysts forecast that Regions Financial Corp. will post $0.83 earnings per share for the current fiscal 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. This represents a $0.26 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, September 7th. Regions Financial Corp.’s dividend payout ratio is currently 32.91%.
Several brokerages have commented on RF. Keefe, Bruyette & Woods upgraded shares of Regions Financial Corp. from an “underperform” rating to a “market perform” rating and raised their price target for the company from $9.50 to $11.00 in a research note on Monday, June 6th. Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corp. in a research note on Saturday, June 4th. Raymond James Financial Inc. upgraded shares of Regions Financial Corp. from an “outperform” rating to a “strong-buy” rating and set a $11.50 price target on the stock in a research note on Thursday, August 25th. Credit Suisse Group AG set a $9.50 price target on shares of Regions Financial Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. Finally, Sanford C. Bernstein lowered shares of Regions Financial Corp. from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $9.56 to $9.50 in a research note on Tuesday, August 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $10.31.
In related news, EVP Scott M. Peters sold 23,391 shares of the business’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 transaction of $227,594.43. Following the completion of the transaction, the executive vice president now owns 201,391 shares in the company, valued at $1,959,534.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ellen S. Jones sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $9.53, for a total transaction of $95,300.00. Following the transaction, the executive vice president now owns 54,886 shares of the company’s stock, valued at approximately $523,063.58. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
Regions Financial Corp. 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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