Caisse DE Depot ET Placement DU Quebec lessened its stake in shares of Regions Financial Corp (NYSE:RF) by 16.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 215,980 shares of the bank’s stock after selling 43,600 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Regions Financial were worth $3,732,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. IFG Advisory LLC acquired a new position in shares of Regions Financial in the 4th quarter valued at about $306,000. Welch Investments LLC acquired a new position in shares of Regions Financial in the 4th quarter valued at about $120,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Regions Financial in the 3rd quarter valued at about $150,000. Valeo Financial Advisors LLC increased its holdings in shares of Regions Financial by 152.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 10,349 shares of the bank’s stock valued at $179,000 after purchasing an additional 6,249 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of Regions Financial in the 3rd quarter valued at about $159,000. Hedge funds and other institutional investors own 76.33% of the company’s stock.
In other Regions Financial news, EVP Ronald G. Smith sold 92,301 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.32, for a total transaction of $1,783,255.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott M. Peters sold 25,627 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $19.50, for a total value of $499,726.50. Following the sale, the executive vice president now directly owns 240,796 shares of the company’s stock, valued at approximately $4,695,522. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial had a return on equity of 7.87% and a net margin of 20.48%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. equities analysts forecast that Regions Financial Corp will post 1.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.81%. Regions Financial’s payout ratio is currently 37.89%.
RF has been the topic of a number of research reports. Barclays upped their target price on Regions Financial from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Robert W. Baird reiterated a “sell” rating and issued a $17.00 target price on shares of Regions Financial in a report on Wednesday, January 3rd. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Thursday, December 21st. Goldman Sachs Group raised Regions Financial from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, November 16th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $18.00 price target on shares of Regions Financial in a research note on Sunday, January 21st. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.24.
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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