Daiwa Securities Group Inc. increased its stake in shares of Regions Financial Corp (NYSE:RF) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,367 shares of the bank’s stock after buying an additional 6,750 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Regions Financial were worth $715,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RF. Welch Investments LLC purchased a new position in shares of Regions Financial during the fourth quarter worth about $120,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Regions Financial during the third quarter worth about $150,000. Pax World Management LLC purchased a new position in shares of Regions Financial during the third quarter worth about $154,000. Brightworth purchased a new position in shares of Regions Financial during the third quarter worth about $159,000. Finally, American Century Companies Inc. purchased a new position in shares of Regions Financial during the third quarter worth about $159,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, 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 transaction of $499,726.50. Following the completion of the sale, the executive vice president now directly owns 240,796 shares in the company, valued at approximately $4,695,522. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John E. D. D S. Maupin, Jr. sold 15,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $17.04, for a total transaction of $255,600.00. Following the sale, the director now owns 59,436 shares of the company’s stock, valued at $1,012,789.44. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
Shares of Regions Financial Corp (NYSE:RF) opened at $19.45 on Friday. Regions Financial Corp has a 12-month low of $13.00 and a 12-month high of $19.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $22,090.32, a P/E ratio of 19.45, a PEG ratio of 1.45 and a beta of 1.32.
Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Regions Financial had a net margin of 22.67% and a return on equity of 8.18%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm earned $0.23 EPS. The company’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 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.85%. Regions Financial’s payout ratio is 36.00%.
A number of research firms recently issued reports on RF. Morgan Stanley raised their price target on Regions Financial from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Nomura reissued a “neutral” rating and set a $17.00 price target (up previously from $16.00) on shares of Regions Financial in a report on Thursday, October 26th. Robert W. Baird reissued a “sell” rating and set a $17.00 price target on shares of Regions Financial in a report on Wednesday, January 3rd. Sandler O’Neill raised Regions Financial from a “hold” rating to a “buy” rating in a report on Monday, January 22nd. Finally, Royal Bank of Canada reissued a “hold” rating and set a $18.00 price target on shares of Regions Financial in a report on Sunday, January 21st. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Regions Financial currently has an average rating of “Hold” and a consensus price target of $17.24.
About Regions Financial
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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