IBM Retirement Fund cut its stake in shares of Regions Financial Corp (NYSE:RF) by 8.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 14,188 shares of the bank’s stock after selling 1,292 shares during the period. IBM Retirement Fund’s holdings in Regions Financial were worth $243,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of RF. Cetera Advisor Networks LLC raised its position in Regions Financial by 8.2% during the second quarter. Cetera Advisor Networks LLC now owns 20,682 shares of the bank’s stock worth $309,000 after acquiring an additional 1,564 shares during the period. Renaissance Technologies LLC acquired a new position in Regions Financial during the second quarter worth $12,456,000. Riverhead Capital Management LLC raised its position in shares of Regions Financial by 10.2% in the second quarter. Riverhead Capital Management LLC now owns 27,721 shares of the bank’s stock valued at $414,000 after buying an additional 2,561 shares during the last quarter. Tyers Asset Management LLC raised its position in shares of Regions Financial by 6.8% in the second quarter. Tyers Asset Management LLC now owns 42,448 shares of the bank’s stock valued at $634,000 after buying an additional 2,704 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in shares of Regions Financial by 6.8% in the second quarter. Glen Harbor Capital Management LLC now owns 90,202 shares of the bank’s stock valued at $1,348,000 after buying an additional 5,746 shares during the last quarter. Institutional investors own 71.16% of the company’s stock.
In related news, insider Hardie B. Kimbrough, Jr. sold 18,409 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $16.27, for a total transaction of $299,514.43. Following the completion of the sale, the insider now directly owns 20,009 shares in the company, valued at $325,546.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David R. Keenan sold 30,658 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $16.73, for a total transaction of $512,908.34. Following the sale, the executive vice president now owns 133,675 shares of the company’s stock, valued at $2,236,382.75. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on the stock. SunTrust Banks increased their target price on shares of Regions Financial from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. ValuEngine cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 7th. UBS Group increased their target price on shares of Regions Financial from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. BMO Capital Markets cut shares of Regions Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Finally, Citigroup upgraded shares of Regions Financial from a “sell” rating to a “neutral” rating and increased their target price for the company from $14.00 to $17.00 in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Regions Financial currently has an average rating of “Hold” and a consensus price target of $17.24.
Regions Financial stock opened at $16.35 on Friday. Regions Financial Corp has a 12-month low of $13.38 and a 12-month high of $17.54. The stock has a market cap of $15.77 billion, a P/E ratio of 12.02, a PEG ratio of 1.43 and a beta of 1.57. The company has a 50-day moving average price of $16.93 and a 200 day moving average price of $15.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60.
Regions Financial (NYSE:RF) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Regions Financial had a net margin of 23.78% and a return on equity of 10.88%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $0.50 earnings per share. Regions Financial’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts forecast that Regions Financial Corp will post 1.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, December 5th. Regions Financial’s payout ratio is currently 45.59%.
About Regions Financial
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.
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