American International Group Inc. grew its position in Regions Financial Corp (NYSE:RF) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 603,466 shares of the bank’s stock after acquiring an additional 32,812 shares during the quarter. American International Group Inc.’s holdings in Regions Financial were worth $10,428,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its position in shares of Regions Financial by 3.7% in the third quarter. Boston Partners now owns 33,692,511 shares of the bank’s stock valued at $513,137,000 after acquiring an additional 1,191,474 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Regions Financial by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 14,430,899 shares of the bank’s stock valued at $219,767,000 after acquiring an additional 382,430 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Regions Financial by 257.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 9,538,317 shares of the bank’s stock valued at $145,268,000 after acquiring an additional 6,868,243 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Regions Financial by 0.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 7,104,771 shares of the bank’s stock valued at $108,206,000 after acquiring an additional 22,026 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Regions Financial by 2.0% in the third quarter. Legal & General Group Plc now owns 6,341,024 shares of the bank’s stock valued at $96,577,000 after acquiring an additional 122,772 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.
In other Regions Financial news, EVP Scott M. Peters sold 25,627 shares of Regions Financial stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $19.50, for a total value of $499,726.50. Following the sale, the executive vice president now owns 240,796 shares in the company, valued at $4,695,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. D. D S. Maupin, Jr. sold 15,000 shares of Regions Financial stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $17.04, for a total value of $255,600.00. Following the completion of the sale, the director now owns 59,436 shares in the company, valued at approximately $1,012,789.44. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 19th. The bank reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Regions Financial had a return on equity of 7.87% and a net margin of 20.48%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. equities research analysts expect that Regions Financial Corp will post 1.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a $0.09 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.83%. Regions Financial’s dividend payout ratio is currently 36.00%.
RF has been the topic of several research reports. Barclays raised their target price on Regions Financial from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Robert W. Baird restated a “sell” rating and issued a $17.00 target price on shares of Regions Financial in a research report on Wednesday, January 3rd. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Thursday, December 21st. Goldman Sachs Group upgraded Regions Financial from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, November 16th. Finally, JPMorgan Chase & Co. raised their target price on Regions Financial from $15.50 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.24.
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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