State of Alaska Department of Revenue grew its position in shares of Regions Financial Corp (NYSE:RF) by 2.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 281,821 shares of the bank’s stock after acquiring an additional 5,898 shares during the period. State of Alaska Department of Revenue’s holdings in Regions Financial were worth $5,169,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of RF. Parallel Advisors LLC grew its holdings in shares of Regions Financial by 87.3% during the 2nd quarter. Parallel Advisors LLC now owns 6,062 shares of the bank’s stock worth $107,000 after acquiring an additional 2,825 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Regions Financial by 8,481.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,522 shares of the bank’s stock worth $116,000 after buying an additional 6,446 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Regions Financial in the 2nd quarter worth approximately $116,000. Summit Trail Advisors LLC grew its stake in shares of Regions Financial by 1,646.8% in the 1st quarter. Summit Trail Advisors LLC now owns 134,102 shares of the bank’s stock worth $134,000 after buying an additional 126,425 shares during the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of Regions Financial by 61.6% in the 2nd quarter. Advisory Services Network LLC now owns 7,694 shares of the bank’s stock worth $141,000 after buying an additional 2,933 shares during the last quarter. Hedge funds and other institutional investors own 74.80% of the company’s stock.
Several analysts recently weighed in on the company. Wedbush set a $22.00 price target on Regions Financial and gave the stock a “buy” rating in a research note on Friday, September 7th. Vining Sparks restated a “buy” rating and issued a $22.00 price target on shares of Regions Financial in a research note on Tuesday. ValuEngine downgraded Regions Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Royal Bank of Canada upgraded Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research note on Monday, June 18th. Finally, Robert W. Baird upgraded Regions Financial from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.23.
In related news, EVP C. Keith Herron sold 23,186 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $18.76, for a total value of $434,969.36. Following the transaction, the executive vice president now directly owns 204,537 shares of the company’s stock, valued at approximately $3,837,114.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan W. Matlock sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $18.50, for a total value of $444,000.00. Following the completion of the transaction, the director now directly owns 14,914 shares in the company, valued at $275,909. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.
RF stock opened at $17.29 on Friday. The company has a market capitalization of $20.23 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29. Regions Financial Corp has a 12-month low of $14.62 and a 12-month high of $20.21. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.66.
Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 20th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. As a group, analysts forecast that Regions Financial Corp will post 1.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were given a $0.14 dividend. The ex-dividend date was Thursday, September 6th. This is a boost from Regions Financial’s previous quarterly dividend of $0.09. This represents a $0.56 annualized dividend and a yield of 3.24%. Regions Financial’s dividend payout ratio is 56.00%.
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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