Regions Financial Corp (NYSE:RF) Shares Acquired by State of Tennessee Treasury Department

State of Tennessee Treasury Department increased its stake in Regions Financial Corp (NYSE:RF) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 247,623 shares of the bank’s stock after acquiring an additional 14,141 shares during the period. State of Tennessee Treasury Department’s holdings in Regions Financial were worth $3,917,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KG&L Capital Management LLC raised its holdings in Regions Financial by 6.2% in the second quarter. KG&L Capital Management LLC now owns 50,101 shares of the bank’s stock valued at $748,000 after buying an additional 2,938 shares during the period. Bessemer Group Inc. raised its holdings in Regions Financial by 2,267.8% in the second quarter. Bessemer Group Inc. now owns 242,939 shares of the bank’s stock valued at $3,629,000 after buying an additional 232,679 shares during the period. Lee Danner & Bass Inc. raised its holdings in Regions Financial by 70.8% in the second quarter. Lee Danner & Bass Inc. now owns 150,140 shares of the bank’s stock valued at $2,243,000 after buying an additional 62,247 shares during the period. Cornerstone Wealth Management LLC raised its holdings in Regions Financial by 15.5% in the second quarter. Cornerstone Wealth Management LLC now owns 19,438 shares of the bank’s stock valued at $290,000 after buying an additional 2,607 shares during the period. Finally, BB&T Securities LLC raised its holdings in Regions Financial by 181.5% in the second quarter. BB&T Securities LLC now owns 333,514 shares of the bank’s stock valued at $4,982,000 after buying an additional 215,029 shares during the period. 71.42% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on RF. Jefferies Financial Group upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $16.00 to $18.00 in a research note on Tuesday, October 8th. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $15.00 to $17.00 in a research note on Monday, July 22nd. SunTrust Banks dropped their price objective on shares of Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. ValuEngine upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, UBS Group lifted their price objective on shares of Regions Financial from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.74.

Shares of NYSE:RF opened at $16.91 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $15.95 and a 200 day simple moving average of $15.11. The firm has a market cap of $17.16 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.56. Regions Financial Corp has a 12-month low of $12.39 and a 12-month high of $17.88.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Regions Financial had a net margin of 23.78% and a return on equity of 10.88%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, equities research analysts forecast that Regions Financial Corp will post 1.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.67%. Regions Financial’s dividend payout ratio (DPR) is presently 45.59%.

In other Regions Financial news, insider Hardie B. Kimbrough, Jr. sold 18,409 shares of Regions Financial stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $16.27, for a total value of $299,514.43. Following the completion of the transaction, the insider now owns 20,009 shares of the company’s stock, valued at $325,546.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP C. Keith Herron sold 69,288 shares of Regions Financial stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $14.51, for a total transaction of $1,005,368.88. Following the completion of the transaction, the executive vice president now directly owns 232,595 shares of the company’s stock, valued at approximately $3,374,953.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,697 shares of company stock valued at $1,633,483. Insiders own 0.28% of the company’s stock.

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.

See Also: What is a balanced fund?

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corp (NYSE:RF).

Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply