Profund Advisors LLC boosted its position in Regions Financial Corp (NYSE:RF) by 32.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 34,054 shares of the bank’s stock after acquiring an additional 8,267 shares during the quarter. Profund Advisors LLC’s holdings in Regions Financial were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. Captrust Financial Advisors grew its stake in Regions Financial by 11.8% in the 2nd quarter. Captrust Financial Advisors now owns 10,688 shares of the bank’s stock valued at $161,000 after buying an additional 1,132 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Regions Financial by 4.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,577,935 shares of the bank’s stock worth $113,214,000 after purchasing an additional 349,158 shares during the last quarter. MML Investors Services LLC grew its position in Regions Financial by 211.8% in the 2nd quarter. MML Investors Services LLC now owns 76,637 shares of the bank’s stock worth $1,145,000 after purchasing an additional 52,058 shares during the last quarter. RWC Asset Management LLP grew its position in Regions Financial by 0.5% in the 2nd quarter. RWC Asset Management LLP now owns 675,327 shares of the bank’s stock worth $10,089,000 after purchasing an additional 3,107 shares during the last quarter. Finally, Natixis grew its position in Regions Financial by 11.9% in the 2nd quarter. Natixis now owns 1,114,265 shares of the bank’s stock worth $16,647,000 after purchasing an additional 118,162 shares during the last quarter. Institutional investors and hedge funds own 71.45% of the company’s stock.
In related news, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of Regions Financial stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $14.68, for a total transaction of $104,932.64. Following the completion of the transaction, the insider now directly owns 34,482 shares of the company’s stock, valued at approximately $506,195.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John B. Owen sold 40,000 shares of Regions Financial stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $14.63, for a total transaction of $585,200.00. Following the transaction, the chief operating officer now directly owns 87,152 shares of the company’s stock, valued at $1,275,033.76. The disclosure for this sale can be found here. Insiders have sold a total of 136,436 shares of company stock valued at $2,024,102 over the last three months. 0.28% of the stock is currently owned by insiders.
Several analysts have issued reports on the stock. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $15.00 to $17.00 in a research report on Monday, July 22nd. Morgan Stanley set a $16.00 price target on shares of Regions Financial and gave the stock a “hold” rating in a research report on Friday, August 9th. Bank of America lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $16.00 in a research report on Thursday, July 11th. Raymond James set a $18.50 price target on shares of Regions Financial and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, SunTrust Banks decreased their price target on shares of Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.34.
Shares of NYSE:RF traded down $0.09 during midday trading on Thursday, reaching $16.26. 328,841 shares of the company’s stock were exchanged, compared to its average volume of 10,051,000. The company’s 50 day simple moving average is $14.81 and its two-hundred day simple moving average is $14.91. The firm has a market capitalization of $16.40 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.52 and a beta of 1.54. Regions Financial Corp has a 12 month low of $12.39 and a 12 month high of $19.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.89.
Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.49 billion. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. On average, research analysts anticipate that Regions Financial Corp will post 1.54 earnings per share for the current year.
Regions Financial declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 27th that permits the company to buyback $1.37 billion in shares. This buyback authorization permits the bank to purchase up to 9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $0.155 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a yield of 3.81%. The ex-dividend date is Thursday, September 5th. Regions Financial’s dividend payout ratio (DPR) is currently 45.59%.
Regions Financial Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corp (NYSE:RF).
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.