NEXT Financial Group Inc acquired a new position in shares of Regions Financial Corp (NYSE:RF) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,155 shares of the bank’s stock, valued at approximately $150,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in shares of Regions Financial by 52.7% during the second quarter. Millennium Management LLC now owns 19,743,411 shares of the bank’s stock valued at $351,038,000 after acquiring an additional 6,813,530 shares during the last quarter. Bank of Montreal Can increased its position in shares of Regions Financial by 4.6% during the second quarter. Bank of Montreal Can now owns 17,179,629 shares of the bank’s stock valued at $305,453,000 after acquiring an additional 754,073 shares during the last quarter. Bank of America Corp DE increased its position in shares of Regions Financial by 0.8% during the second quarter. Bank of America Corp DE now owns 12,496,685 shares of the bank’s stock valued at $222,190,000 after acquiring an additional 95,653 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Regions Financial by 135.1% during the second quarter. Janus Henderson Group PLC now owns 7,807,580 shares of the bank’s stock valued at $138,818,000 after acquiring an additional 4,486,512 shares during the last quarter. Finally, PointState Capital LP increased its position in shares of Regions Financial by 3,053.2% during the first quarter. PointState Capital LP now owns 6,489,300 shares of the bank’s stock valued at $120,571,000 after acquiring an additional 6,283,500 shares during the last quarter. Hedge funds and other institutional investors own 74.80% of the company’s stock.
In related news, EVP C. Keith Herron sold 23,186 shares of Regions Financial stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $18.76, for a total value of $434,969.36. Following the completion of the transaction, the executive vice president now owns 204,537 shares in the company, valued at $3,837,114.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan W. Matlock sold 24,000 shares of Regions Financial stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $18.50, for a total transaction of $444,000.00. Following the completion of the transaction, the director now owns 14,914 shares of the company’s stock, valued at approximately $275,909. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.
NYSE RF opened at $17.29 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.66. Regions Financial Corp has a one year low of $14.62 and a one year high of $20.21. The company has a market capitalization of $20.23 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 20th. The bank reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Regions Financial had a net margin of 22.77% and a return on equity of 9.46%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Corp will post 1.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were paid a $0.14 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, September 6th. This represents a $0.56 annualized dividend and a dividend yield of 3.24%. Regions Financial’s dividend payout ratio (DPR) is presently 56.00%.
A number of equities research analysts have weighed in on RF shares. Wedbush set a $22.00 price target on shares of Regions Financial and gave the company a “buy” rating in a research report on Friday, September 7th. ValuEngine cut shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Royal Bank of Canada raised shares of Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price objective for the company in a research note on Monday, June 18th. Robert W. Baird raised shares of Regions Financial from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th. Finally, Vining Sparks reissued a “buy” rating and issued a $22.00 price objective on shares of Regions Financial in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.23.
About Regions Financial
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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