Texas Permanent School Fund trimmed its stake in shares of Regions Financial Corp (NYSE:RF) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,991 shares of the bank’s stock after selling 9,958 shares during the quarter. Texas Permanent School Fund’s holdings in Regions Financial were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Pearl River Capital LLC raised its stake in shares of Regions Financial by 30.7% in the first quarter. Pearl River Capital LLC now owns 12,184 shares of the bank’s stock valued at $172,000 after buying an additional 2,860 shares during the period. Candriam Luxembourg S.C.A. boosted its holdings in Regions Financial by 5.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 623,244 shares of the bank’s stock worth $8,819,000 after buying an additional 29,467 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Regions Financial during the first quarter worth about $16,980,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Regions Financial by 11.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 2,172,241 shares of the bank’s stock valued at $30,738,000 after purchasing an additional 220,675 shares in the last quarter. Finally, HL Financial Services LLC lifted its holdings in shares of Regions Financial by 52.5% in the first quarter. HL Financial Services LLC now owns 25,069 shares of the bank’s stock valued at $355,000 after purchasing an additional 8,625 shares in the last quarter. Institutional investors own 71.80% of the company’s stock.
Several analysts have issued reports on RF shares. Wedbush downgraded shares of Regions Financial from an “outperform” rating to a “neutral” rating and set a $17.00 price target on the stock. in a report on Monday, February 4th. They noted that the move was a valuation call. Credit Suisse Group began coverage on shares of Regions Financial in a research note on Monday, February 11th. They set a “neutral” rating and a $17.00 price objective for the company. Barclays reiterated a “sell” rating and set a $17.00 price objective on shares of Regions Financial in a research note on Thursday, February 21st. FIG Partners reiterated a “market-perform” rating on shares of Regions Financial in a research note on Thursday, February 21st. Finally, Sandler O’Neill downgraded shares of Regions Financial from a “buy” rating to a “hold” rating and set a $16.41 price objective for the company. in a research note on Thursday, February 28th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regions Financial has a consensus rating of “Hold” and an average price target of $17.19.
In related news, EVP David R. Keenan sold 30,877 shares of Regions Financial stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $15.50, for a total value of $478,593.50. Following the completion of the transaction, the executive vice president now directly owns 24,321 shares of the company’s stock, valued at $376,975.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John B. Owen sold 61,756 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $15.25, for a total value of $941,779.00. Following the completion of the transaction, the chief operating officer now directly owns 127,152 shares of the company’s stock, valued at $1,939,068. The disclosure for this sale can be found here. In the last three months, insiders sold 123,510 shares of company stock worth $1,889,394. Insiders own 0.28% of the company’s stock.
Shares of NYSE:RF traded up $0.30 on Thursday, reaching $14.62. 194,895 shares of the company’s stock were exchanged, compared to its average volume of 12,662,209. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. Regions Financial Corp has a fifty-two week low of $12.39 and a fifty-two week high of $19.99. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.90 and a current ratio of 0.91.
Regions Financial (NYSE:RF) last issued its earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.37. Regions Financial had a net margin of 26.38% and a return on equity of 10.76%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. Sell-side analysts expect that Regions Financial Corp will post 1.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Thursday, June 6th. Regions Financial’s dividend payout ratio is 41.18%.
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Regions Financial Company Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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