Thomasville National Bank decreased its holdings in Regions Financial Co. (NYSE:RF) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,726 shares of the bank’s stock after selling 2,000 shares during the quarter. Thomasville National Bank’s holdings in Regions Financial were worth $159,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in Regions Financial by 49.7% during the fourth quarter. JPMorgan Chase & Co. now owns 33,822,024 shares of the bank’s stock valued at $545,211,000 after purchasing an additional 11,228,412 shares in the last quarter. Norges Bank bought a new stake in shares of Regions Financial during the fourth quarter valued at approximately $178,574,000. Principal Financial Group Inc. raised its position in shares of Regions Financial by 594.9% during the fourth quarter. Principal Financial Group Inc. now owns 12,163,730 shares of the bank’s stock valued at $196,080,000 after buying an additional 10,413,412 shares during the last quarter. KBC Group NV raised its position in shares of Regions Financial by 1,202.8% during the fourth quarter. KBC Group NV now owns 3,848,835 shares of the bank’s stock valued at $62,043,000 after buying an additional 3,553,401 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Regions Financial by 80.3% during the fourth quarter. Morgan Stanley now owns 6,127,019 shares of the bank’s stock valued at $98,768,000 after buying an additional 2,727,960 shares during the last quarter. 71.67% of the stock is currently owned by institutional investors.
In other Regions Financial news, EVP Ronald G. Smith sold 56,147 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $20.23, for a total value of $1,135,853.81. Following the sale, the executive vice president now owns 219,667 shares in the company, valued at approximately $4,443,863.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO John B. Owen sold 75,000 shares of the stock in a transaction that occurred on Tuesday, January 26th. The shares were sold at an average price of $17.73, for a total value of $1,329,750.00. Following the transaction, the chief operating officer now owns 70,187 shares in the company, valued at approximately $1,244,415.51. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 22nd. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.20. Regions Financial had a net margin of 13.17% and a return on equity of 5.61%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.55 billion. On average, research analysts anticipate that Regions Financial Co. will post 0.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Friday, March 5th were issued a $0.155 dividend. The ex-dividend date of this dividend was Thursday, March 4th. This represents a $0.62 annualized dividend and a yield of 2.94%. Regions Financial’s dividend payout ratio (DPR) is presently 40.00%.
RF has been the topic of several recent analyst reports. Stephens lifted their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. Barclays boosted their price target on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Wednesday. Credit Suisse Group boosted their price target on shares of Regions Financial from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, January 25th. Raymond James lowered shares of Regions Financial from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the stock from $21.00 to $23.00 in a research note on Wednesday. Finally, Compass Point raised shares of Regions Financial from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Friday, January 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. Regions Financial presently has an average rating of “Buy” and an average price target of $17.75.
Regions Financial Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. 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; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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