Fred Alger Management Inc. cut its position in shares of Regions Financial Corp (NYSE:RF) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,917 shares of the bank’s stock after selling 28,729 shares during the quarter. Fred Alger Management Inc.’s holdings in Regions Financial were worth $5,908,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of RF. Patten Group Inc. grew its holdings in Regions Financial by 4.7% in the fourth quarter. Patten Group Inc. now owns 62,888 shares of the bank’s stock worth $1,087,000 after purchasing an additional 2,820 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management grew its holdings in Regions Financial by 19.0% in the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 19,365 shares of the bank’s stock worth $335,000 after purchasing an additional 3,090 shares during the period. New Mexico Educational Retirement Board grew its holdings in Regions Financial by 2.9% in the fourth quarter. New Mexico Educational Retirement Board now owns 114,913 shares of the bank’s stock worth $1,986,000 after purchasing an additional 3,200 shares during the period. Brown Advisory Securities LLC grew its holdings in Regions Financial by 10.1% in the fourth quarter. Brown Advisory Securities LLC now owns 36,573 shares of the bank’s stock worth $633,000 after purchasing an additional 3,348 shares during the period. Finally, FDx Advisors Inc. grew its holdings in Regions Financial by 5.4% in the fourth quarter. FDx Advisors Inc. now owns 68,855 shares of the bank’s stock worth $1,190,000 after purchasing an additional 3,513 shares during the period. Institutional investors own 76.33% of the company’s stock.
A number of research firms have commented on RF. ValuEngine upgraded shares of Regions Financial from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Sandler O’Neill raised shares of Regions Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 22nd. UBS Group raised shares of Regions Financial from a “sell” rating to a “neutral” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Tuesday, December 12th. B. Riley reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Regions Financial in a research note on Monday, January 22nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Regions Financial in a research note on Friday, January 19th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Regions Financial currently has an average rating of “Hold” and an average target price of $17.24.
Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a net margin of 20.48% and a return on equity of 7.87%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. research analysts predict that Regions Financial Corp will post 1.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, March 8th. Regions Financial’s dividend payout ratio is 36.00%.
In other Regions Financial news, EVP Scott M. Peters sold 25,627 shares of Regions Financial stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total value of $499,726.50. Following the sale, the executive vice president now owns 240,796 shares of the company’s stock, valued at $4,695,522. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ronald G. Smith sold 92,301 shares of Regions Financial stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $19.32, for a total transaction of $1,783,255.32. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Regions Financial 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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