Brant Point Investment Management LLC decreased its position in shares of Regions Financial Corp (NYSE:RF) by 86.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,800 shares of the bank’s stock after selling 434,000 shares during the period. Brant Point Investment Management LLC’s holdings in Regions Financial were worth $1,206,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of RF. Pinebridge Investments L.P. grew its holdings in shares of Regions Financial by 5.7% during the 3rd quarter. Pinebridge Investments L.P. now owns 758,442 shares of the bank’s stock worth $11,551,000 after purchasing an additional 40,919 shares in the last quarter. Cipher Capital LP acquired a new stake in shares of Regions Financial during the 3rd quarter worth $1,160,000. Canada Pension Plan Investment Board grew its holdings in shares of Regions Financial by 2.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,084,630 shares of the bank’s stock worth $31,749,000 after purchasing an additional 59,100 shares in the last quarter. Lourd Capital LLC acquired a new stake in shares of Regions Financial during the 4th quarter worth $318,000. Finally, BP PLC acquired a new stake in shares of Regions Financial during the 3rd quarter worth $2,161,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.
In other news, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of Regions Financial stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total transaction of $255,600.00. Following the sale, the director now directly owns 59,436 shares of the company’s stock, valued at $1,012,789.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald G. Smith sold 92,301 shares of Regions Financial stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $19.32, for a total value of $1,783,255.32. The disclosure for this sale can be found here. Insiders have sold 132,928 shares of company stock worth $2,538,582 over the last three months. Insiders own 0.52% of the company’s stock.
Regions Financial (NYSE:RF) last announced its quarterly 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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. sell-side analysts anticipate that Regions Financial Corp will post 1.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, March 8th. Regions Financial’s payout ratio is 37.89%.
Several analysts have recently issued reports on the company. Morgan Stanley increased their target price on Regions Financial from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Robert W. Baird reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Regions Financial in a research note on Wednesday, January 3rd. Sandler O’Neill raised Regions Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 22nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Regions Financial in a research note on Sunday, January 21st. Finally, B. Riley reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Regions Financial in a research note on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Regions Financial 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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