Regions Financial Corp. (RF) Sees Significant Decrease in Short Interest
Regions Financial Corp. (NYSE:RF) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 32,697,379 shares, a decrease of 17.3% from the September 15th total of 39,545,534 shares. Based on an average daily trading volume, of 15,584,808 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.6% of the shares of the stock are sold short.
A number of equities analysts have commented on the stock. Raymond James Financial Inc. downgraded shares of Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 target price on the stock. in a research note on Thursday, October 6th. Keefe, Bruyette & Woods upgraded shares of Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 target price on the stock in a research note on Thursday, August 25th. Credit Suisse Group AG restated a “hold” rating and issued a $9.50 target price on shares of Regions Financial Corp. in a research note on Wednesday, July 20th. FBR & Co restated a “buy” rating and issued a $10.50 target price on shares of Regions Financial Corp. in a research note on Wednesday, July 20th. Finally, Barclays PLC restated a “sell” rating and issued a $10.00 target price on shares of Regions Financial Corp. in a research note on Tuesday, October 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $10.34.
Regions Financial Corp. (NYSE:RF) opened at 10.05 on Monday. The firm has a market capitalization of $12.61 billion, a P/E ratio of 12.64 and a beta of 1.44. Regions Financial Corp. has a 52-week low of $7.00 and a 52-week high of $10.47. The company’s 50-day moving average is $9.89 and its 200-day moving average is $9.25.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, December 7th. Regions Financial Corp.’s dividend payout ratio is presently 32.91%.
In related news, EVP C. Keith Herron sold 38,753 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $9.38, for a total transaction of $363,503.14. Following the transaction, the executive vice president now directly owns 290,384 shares in the company, valued at approximately $2,723,801.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ellen S. Jones sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $9.53, for a total transaction of $95,300.00. Following the transaction, the executive vice president now owns 54,886 shares in the company, valued at $523,063.58. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Regions Financial Corp. by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,215 shares of the company’s stock worth $104,000 after buying an additional 710 shares in the last quarter. Kanaly Trust Co increased its stake in shares of Regions Financial Corp. by 9.6% in the second quarter. Kanaly Trust Co now owns 13,044 shares of the company’s stock worth $111,000 after buying an additional 1,145 shares in the last quarter. Wesbanco Bank Inc. increased its stake in shares of Regions Financial Corp. by 14.2% in the second quarter. Wesbanco Bank Inc. now owns 13,329 shares of the company’s stock worth $114,000 after buying an additional 1,662 shares in the last quarter. Paradigm Financial Advisors LLC purchased a new stake in shares of Regions Financial Corp. during the second quarter worth approximately $119,000. Finally, Woodmont Investment Counsel LLC increased its stake in shares of Regions Financial Corp. by 3.1% in the second quarter. Woodmont Investment Counsel LLC now owns 14,144 shares of the company’s stock worth $120,000 after buying an additional 426 shares in the last quarter. 74.29% of the stock is currently owned by institutional investors.
About Regions Financial Corp.
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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