Clearbridge Investments LLC lessened its holdings in shares of Regions Financial Corp (NYSE:RF) by 17.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,898,265 shares of the bank’s stock after selling 1,005,992 shares during the quarter. Clearbridge Investments LLC’s holdings in Regions Financial were worth $84,642,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Brandywine Global Investment Management LLC grew its position in shares of Regions Financial by 1.6% during the 4th quarter. Brandywine Global Investment Management LLC now owns 1,433,536 shares of the bank’s stock worth $24,772,000 after purchasing an additional 22,518 shares in the last quarter. Kavi Asset Management LP acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $5,011,000. Dorsey Wright & Associates grew its position in shares of Regions Financial by 34.5% during the 4th quarter. Dorsey Wright & Associates now owns 147,171 shares of the bank’s stock worth $2,543,000 after purchasing an additional 37,754 shares in the last quarter. Dynamic Capital Management Ltd acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $657,000. Finally, JOYN Advisors Inc. acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $508,000. Hedge funds and other institutional investors own 76.33% of the company’s stock.
A number of brokerages have issued reports on RF. ValuEngine upgraded shares of Regions Financial from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Sandler O’Neill upgraded shares of Regions Financial from a “hold” rating to a “buy” rating in a research report on Monday, January 22nd. UBS Group upgraded shares of Regions Financial from a “sell” rating to a “neutral” rating and increased their target price for the stock from $15.00 to $18.00 in a research report on Tuesday, December 12th. B. Riley restated a “hold” rating and set a $19.00 target price on shares of Regions Financial in a research report on Monday, January 22nd. Finally, Piper Jaffray Companies restated a “hold” rating and set a $18.00 target price on shares of Regions Financial in a research report on Friday, January 19th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.24.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 19th. The bank reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 20.48% and a return on equity of 7.87%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. analysts forecast that Regions Financial Corp will post 1.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, March 8th. Regions Financial’s payout ratio is 37.89%.
In related news, EVP Scott M. Peters sold 25,627 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total value of $499,726.50. Following the completion of the transaction, the executive vice president now owns 240,796 shares of the company’s stock, valued at approximately $4,695,522. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ronald G. Smith sold 92,301 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.32, for a total transaction of $1,783,255.32. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.
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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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