Bank of Montreal Can decreased its holdings in shares of Regions Financial Corp (NYSE:RF) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,901,424 shares of the bank’s stock after selling 1,278,205 shares during the quarter. Bank of Montreal Can owned approximately 1.44% of Regions Financial worth $291,792,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Busey Trust CO lifted its stake in Regions Financial by 2.5% in the third quarter. Busey Trust CO now owns 485,557 shares of the bank’s stock valued at $8,910,000 after acquiring an additional 11,898 shares during the last quarter. Iberiabank Corp lifted its stake in Regions Financial by 7.0% in the third quarter. Iberiabank Corp now owns 49,232 shares of the bank’s stock valued at $903,000 after acquiring an additional 3,215 shares during the last quarter. NEXT Financial Group Inc bought a new position in shares of Regions Financial in the third quarter valued at about $150,000. Smith Shellnut Wilson LLC ADV bought a new position in shares of Regions Financial in the third quarter valued at about $891,000. Finally, State of Alaska Department of Revenue raised its position in shares of Regions Financial by 2.1% in the third quarter. State of Alaska Department of Revenue now owns 281,821 shares of the bank’s stock valued at $5,169,000 after purchasing an additional 5,898 shares during the period. Institutional investors and hedge funds own 74.80% of the company’s stock.
RF has been the topic of several research analyst reports. Wedbush set a $22.00 price objective on shares of Regions Financial and gave the company a “buy” rating in a research report on Friday, September 7th. ValuEngine lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Royal Bank of Canada raised shares of Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research report on Monday, June 18th. Robert W. Baird raised shares of Regions Financial from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. Finally, Vining Sparks reissued a “buy” rating and issued a $22.00 price objective on shares of Regions Financial in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Regions Financial currently has an average rating of “Hold” and an average price target of $18.23.
NYSE:RF traded down $0.41 during mid-day trading on Friday, reaching $17.33. 1,757,177 shares of the company’s stock were exchanged, compared to its average volume of 11,030,501. Regions Financial Corp has a one year low of $14.62 and a one year high of $20.21. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.87 and a current ratio of 0.88.
Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 20th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Regions Financial had a net margin of 22.77% and a return on equity of 9.46%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm earned $0.25 earnings per share. Regions Financial’s revenue for the quarter was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Corp will post 1.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.23%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, September 6th. Regions Financial’s dividend payout ratio (DPR) is currently 56.00%.
In other Regions Financial news, EVP C. Keith Herron sold 23,186 shares of the stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $18.76, for a total transaction of $434,969.36. Following the sale, the executive vice president now directly owns 204,537 shares in the company, valued at $3,837,114.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan W. Matlock sold 24,000 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $18.50, for a total transaction of $444,000.00. Following the sale, the director now owns 14,914 shares in the company, valued at $275,909. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.
About Regions Financial
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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