Gulf International Bank UK Ltd held its position in Regions Financial Corporation (NYSE:RF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 391,567 shares of the bank’s stock at the end of the second quarter. Gulf International Bank UK Ltd’s holdings in Regions Financial Corporation were worth $5,732,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Regions Financial Corporation by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock valued at $395,848,000 after buying an additional 2,985,752 shares during the period. Toronto Dominion Bank boosted its position in Regions Financial Corporation by 53.9% in the first quarter. Toronto Dominion Bank now owns 326,968 shares of the bank’s stock valued at $4,750,000 after buying an additional 114,483 shares during the period. Trexquant Investment LP boosted its position in Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock valued at $2,345,000 after buying an additional 33,700 shares during the period. Macquarie Group Ltd. boosted its position in Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock valued at $638,000 after buying an additional 14,525 shares during the period. Finally, Elkfork Partners LLC raised its stake in shares of Regions Financial Corporation by 96.9% in the first quarter. Elkfork Partners LLC now owns 809,160 shares of the bank’s stock valued at $11,757,000 after buying an additional 398,112 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors.
Shares of Regions Financial Corporation (RF) traded up 0.50% during midday trading on Friday, hitting $14.06. The company’s stock had a trading volume of 14,369,574 shares. The company has a 50-day moving average price of $14.57 and a 200 day moving average price of $14.46. The company has a market cap of $16.80 billion, a P/E ratio of 14.69 and a beta of 1.31. Regions Financial Corporation has a 1-year low of $9.37 and a 1-year high of $16.03.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business earned $0.20 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Regions Financial Corporation will post $1.00 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.09 per share. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio is 29.47%.
Regions Financial Corporation announced that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in shares. This buyback authorization authorizes the bank to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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Several equities research analysts recently weighed in on the company. Bank of America Corporation upgraded Regions Financial Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $17.00 in a report on Thursday, May 4th. Royal Bank Of Canada restated a “hold” rating and issued a $15.00 target price on shares of Regions Financial Corporation in a report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 target price on Regions Financial Corporation and gave the stock a “hold” rating in a report on Tuesday, June 20th. BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a report on Monday, May 15th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Regions Financial Corporation presently has an average rating of “Hold” and an average target price of $14.63.
In other Regions Financial Corporation news, EVP Fournier J. Gale III sold 35,825 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the sale, the executive vice president now directly owns 109,318 shares of the company’s stock, valued at approximately $1,594,949.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $14.95, for a total value of $971,750.00. Following the sale, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at $1,811,342. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,514 shares of company stock worth $1,846,733. 0.52% of the stock is owned by company insiders.
Regions Financial Corporation Company Profile
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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