Standard Life Investments LTD increased its position in Regions Financial Corp. (NYSE:RF) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,954,522 shares of the company’s stock after buying an additional 66,345 shares during the period. Standard Life Investments LTD’s holdings in Regions Financial Corp. were worth $67,653,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Pitcairn Co. increased its position in Regions Financial Corp. by 0.4% in the second quarter. Pitcairn Co. now owns 22,421 shares of the company’s stock worth $191,000 after buying an additional 90 shares in the last quarter. Lynch & Associates IN increased its position in Regions Financial Corp. by 0.9% in the second quarter. Lynch & Associates IN now owns 32,964 shares of the company’s stock worth $281,000 after buying an additional 300 shares in the last quarter. HL Financial Services LLC increased its position in Regions Financial Corp. by 2.0% in the second quarter. HL Financial Services LLC now owns 15,736 shares of the company’s stock worth $134,000 after buying an additional 312 shares in the last quarter. BKD Wealth Advisors LLC increased its position in Regions Financial Corp. by 1.6% in the second quarter. BKD Wealth Advisors LLC now owns 23,931 shares of the company’s stock worth $204,000 after buying an additional 381 shares in the last quarter. Finally, Callahan Advisors LLC increased its position in Regions Financial Corp. by 3.7% in the second quarter. Callahan Advisors LLC now owns 28,350 shares of the company’s stock worth $241,000 after buying an additional 1,000 shares in the last quarter. 74.29% of the stock is owned by institutional investors and hedge funds.
Shares of Regions Financial Corp. (NYSE:RF) traded up 2.28% during midday trading on Wednesday, hitting $10.31. The company had a trading volume of 15,204,964 shares. The firm’s 50-day moving average is $9.78 and its 200-day moving average is $9.16. Regions Financial Corp. has a 12-month low of $7.00 and a 12-month high of $10.38. The firm has a market capitalization of $12.94 billion, a P/E ratio of 12.97 and a beta of 1.44.
Regions Financial Corp. (NYSE:RF) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.01. Regions Financial Corp. had a net margin of 18.63% and a return on equity of 6.65%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.37 billion. On average, analysts predict that Regions Financial Corp. will post $0.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Wednesday, September 7th. Regions Financial Corp.’s dividend payout ratio (DPR) is presently 32.91%.
A number of equities analysts have commented on RF shares. Jefferies Group reaffirmed a “buy” rating and issued a $9.50 price objective on shares of Regions Financial Corp. in a report on Thursday, July 7th. Evercore ISI reiterated a “buy” rating and issued a $10.00 target price (up from $9.00) on shares of Regions Financial Corp. in a research note on Friday, July 22nd. FBR & Co reiterated a “buy” rating and issued a $10.50 target price on shares of Regions Financial Corp. in a research note on Wednesday, July 20th. TheStreet upgraded Regions Financial Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Regions Financial Corp. in a research note on Saturday, July 9th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $10.31.
In other Regions Financial Corp. news, EVP Ellen S. Jones sold 10,000 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $9.53, for a total value of $95,300.00. Following the transaction, the executive vice president now owns 54,886 shares of the company’s stock, valued at $523,063.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP C. Keith Herron sold 38,753 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $9.38, for a total value of $363,503.14. Following the completion of the transaction, the executive vice president now directly owns 290,384 shares in the company, valued at approximately $2,723,801.92. The disclosure for this sale can be found here. 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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