Assenagon Asset Management S.A. bought a new position in shares of Regions Financial Corp (NYSE:RF) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 513,885 shares of the bank’s stock, valued at approximately $5,714,000. Assenagon Asset Management S.A. owned 0.05% of Regions Financial at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its stake in Regions Financial by 7.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 163,940 shares of the bank’s stock worth $1,471,000 after purchasing an additional 10,974 shares during the period. Advisor Group Holdings Inc. acquired a new stake in Regions Financial in the first quarter valued at approximately $1,803,000. Alliancebernstein L.P. grew its stake in Regions Financial by 18.3% in the first quarter. Alliancebernstein L.P. now owns 2,207,886 shares of the bank’s stock valued at $19,805,000 after acquiring an additional 340,804 shares during the period. M&T Bank Corp grew its stake in Regions Financial by 3.7% in the first quarter. M&T Bank Corp now owns 58,484 shares of the bank’s stock valued at $526,000 after acquiring an additional 2,096 shares during the period. Finally, Aull & Monroe Investment Management Corp grew its stake in Regions Financial by 1.7% in the first quarter. Aull & Monroe Investment Management Corp now owns 116,873 shares of the bank’s stock valued at $1,049,000 after acquiring an additional 1,962 shares during the period. 73.03% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jose S. Suquet purchased 5,000 shares of Regions Financial stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of $10.21 per share, for a total transaction of $51,050.00. Following the completion of the transaction, the director now owns 41,527 shares in the company, valued at $423,990.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jose S. Suquet purchased 10,000 shares of Regions Financial stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $9.88 per share, with a total value of $98,800.00. Following the completion of the transaction, the director now owns 41,527 shares of the company’s stock, valued at approximately $410,286.76. The disclosure for this purchase can be found here. 0.47% of the stock is currently owned by insiders.
Shares of RF opened at $11.04 on Friday. The firm has a market cap of $10.52 billion, a PE ratio of 16.73, a PEG ratio of 3.45 and a beta of 1.69. The stock’s fifty day moving average price is $11.38 and its two-hundred day moving average price is $12.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.87. Regions Financial Corp has a 1 year low of $6.94 and a 1 year high of $17.54.
Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 17th. The bank reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.32). The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 11.32% and a return on equity of 5.10%. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Sell-side analysts anticipate that Regions Financial Corp will post 0.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 5.62%. Regions Financial’s dividend payout ratio (DPR) is presently 40.00%.
A number of brokerages have commented on RF. Compass Point reduced their price objective on Regions Financial from $11.00 to $10.50 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Citigroup reduced their price objective on Regions Financial from $15.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. SunTrust Banks reduced their price objective on Regions Financial from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Co lifted their target price on Regions Financial from $12.00 to $15.00 in a research report on Friday, June 5th. Finally, ValuEngine raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Regions Financial has a consensus rating of “Buy” and an average price target of $13.34.
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.
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