APG Asset Management N.V. boosted its position in Regions Financial Corporation (NYSE:RF) by 12.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,028,971 shares of the bank’s stock after buying an additional 113,000 shares during the period. APG Asset Management N.V. owned 0.09% of Regions Financial Corporation worth $15,064,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. FNY Partners Fund LP bought a new position in shares of Regions Financial Corporation during the first quarter worth about $103,000. Bronfman E.L. Rothschild L.P. boosted its stake in Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock worth $104,000 after buying an additional 666 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock worth $126,000 after buying an additional 28 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Regions Financial Corporation during the first quarter worth $146,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Regions Financial Corporation during the first quarter worth $148,000. Institutional investors own 76.61% of the company’s stock.
Shares of Regions Financial Corporation (NYSE RF) traded up 0.50% during midday trading on Friday, hitting $14.06. The company had a trading volume of 14,369,574 shares. The company’s 50-day moving average price is $14.57 and its 200 day moving average price is $14.46. The company has a market capitalization of $16.80 billion, a price-to-earnings ratio of 14.69 and a beta of 1.31. Regions Financial Corporation has a 12-month low of $9.37 and a 12-month high of $16.03.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts predict that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.
Regions Financial Corporation declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.09 dividend. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.56%. Regions Financial Corporation’s payout ratio is presently 29.47%.
RF has been the topic of a number of recent research reports. Bank of America Corporation upgraded Regions Financial Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $17.00 in a research report on Thursday, May 4th. Argus lowered Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Monday, May 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $15.00 price objective on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a research report on Monday, May 15th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $14.63.
In other Regions Financial Corporation news, Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $15.23, for a total value of $152,300.00. Following the transaction, the director now owns 32,188 shares in the company, valued at $490,223.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fournier J. Gale III sold 35,825 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the transaction, the executive vice president now owns 109,318 shares in the company, valued at approximately $1,594,949.62. The disclosure for this sale can be found here. Insiders sold 124,514 shares of company stock worth $1,846,733 in the last 90 days. Corporate insiders own 0.52% of the company’s stock.
About Regions Financial Corporation
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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