OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Regions Financial Corp (NYSE:RF) by 36.6% during the fourth quarter, HoldingsChannel reports. The firm owned 87,624 shares of the bank’s stock after purchasing an additional 23,500 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Regions Financial were worth $1,514,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of RF. Millennium Management LLC boosted its position in Regions Financial by 24.6% during the fourth quarter. Millennium Management LLC now owns 16,658,150 shares of the bank’s stock valued at $287,853,000 after purchasing an additional 3,287,621 shares in the last quarter. Sirios Capital Management L P bought a new stake in Regions Financial during the fourth quarter valued at about $23,365,000. Amundi Pioneer Asset Management Inc. bought a new stake in Regions Financial during the fourth quarter valued at about $19,735,000. Teachers Advisors LLC boosted its position in Regions Financial by 14.9% during the fourth quarter. Teachers Advisors LLC now owns 6,716,367 shares of the bank’s stock valued at $116,059,000 after purchasing an additional 870,111 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Regions Financial by 23.7% during the fourth quarter. Retirement Systems of Alabama now owns 2,773,436 shares of the bank’s stock valued at $47,925,000 after purchasing an additional 531,135 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors.
Shares of Regions Financial Corp (NYSE RF) opened at $18.62 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Regions Financial Corp has a twelve month low of $13.00 and a twelve month high of $20.21. The company has a market capitalization of $21,923.69, a PE ratio of 19.53, a P/E/G ratio of 1.46 and a beta of 1.27.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, March 8th. Regions Financial’s dividend payout ratio (DPR) is 36.00%.
Several equities research analysts have weighed in on the company. ValuEngine raised Regions Financial from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Sandler O’Neill raised Regions Financial from a “hold” rating to a “buy” rating in a report on Monday, January 22nd. UBS raised Regions Financial from a “sell” rating to a “neutral” rating and raised their price target for the stock from $15.00 to $18.00 in a report on Tuesday, December 12th. B. Riley reissued a “hold” rating and issued a $19.00 price target on shares of Regions Financial in a report on Monday, January 22nd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price target on shares of Regions Financial in a report on Friday, January 19th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.24.
In related news, EVP Ronald G. Smith sold 92,301 shares of Regions Financial stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.32, for a total transaction of $1,783,255.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott M. Peters sold 25,627 shares of Regions Financial 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 transaction, the executive vice president now owns 240,796 shares of the company’s stock, valued at $4,695,522. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.
Regions Financial 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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