Regions Financial Corporation $RF Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in shares of Regions Financial Corporation (NYSE:RF) by 29.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,692 shares of the bank’s stock after acquiring an additional 54,567 shares during the period. ProShare Advisors LLC’s holdings in Regions Financial were worth $6,577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial during the 2nd quarter worth approximately $25,000. United Community Bank purchased a new position in shares of Regions Financial during the 3rd quarter worth approximately $30,000. Spire Wealth Management increased its stake in shares of Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after purchasing an additional 557 shares in the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Regions Financial by 260.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after purchasing an additional 854 shares in the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of Regions Financial during the 4th quarter worth approximately $35,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. UBS Group reissued a “neutral” rating and set a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. DA Davidson raised their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Royal Bank Of Canada raised their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.47.

Regions Financial Stock Up 0.6%

RF stock opened at $27.87 on Friday. The stock has a market capitalization of $23.78 billion, a P/E ratio of 11.61, a PEG ratio of 1.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a one year low of $20.79 and a one year high of $31.53. The company has a 50 day moving average price of $26.95 and a two-hundred day moving average price of $27.26.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. Regions Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. As a group, sell-side analysts expect that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s payout ratio is presently 44.17%.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.