Canada Pension Plan Investment Board lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,084,630 shares of the bank’s stock after purchasing an additional 59,100 shares during the quarter. Canada Pension Plan Investment Board owned about 0.18% of Regions Financial Corporation worth $31,749,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in RF. Boston Partners boosted its stake in shares of Regions Financial Corporation by 506.1% in the 2nd quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock valued at $475,815,000 after buying an additional 27,138,273 shares during the period. Janus Henderson Group PLC raised its position in shares of Regions Financial Corporation by 8,065.3% during the 2nd quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock worth $191,306,000 after acquiring an additional 12,907,276 shares in the last quarter. Samlyn Capital LLC raised its position in shares of Regions Financial Corporation by 63.0% during the 2nd quarter. Samlyn Capital LLC now owns 9,074,895 shares of the bank’s stock worth $132,856,000 after acquiring an additional 3,506,995 shares in the last quarter. Shapiro Capital Management LLC acquired a new stake in shares of Regions Financial Corporation during the 2nd quarter worth about $47,308,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of Regions Financial Corporation by 66.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,319,165 shares of the bank’s stock worth $92,513,000 after acquiring an additional 2,517,411 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.
In related news, EVP Scott M. Peters sold 25,000 shares of Regions Financial Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $15.84, for a total transaction of $396,000.00. Following the sale, the executive vice president now directly owns 121,459 shares of the company’s stock, valued at $1,923,910.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John B. Owen sold 40,000 shares of Regions Financial Corporation stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total value of $626,800.00. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
Shares of Regions Financial Corporation (NYSE:RF) opened at $15.69 on Wednesday. Regions Financial Corporation has a 1-year low of $12.80 and a 1-year high of $16.03. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $17,909.95, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.40 and a beta of 1.29.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial Corporation had a return on equity of 7.56% and a net margin of 20.14%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. analysts predict that Regions Financial Corporation will post 0.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Thursday, December 7th. Regions Financial Corporation’s dividend payout ratio is currently 37.50%.
RF has been the topic of several research analyst reports. BidaskClub downgraded Regions Financial Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Bank of America Corporation restated a “buy” rating and issued a $17.00 price target on shares of Regions Financial Corporation in a research note on Wednesday, July 26th. Vining Sparks upgraded Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 26th. Wells Fargo & Company initiated coverage on Regions Financial Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $16.00 target price on the stock. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $16.00 target price on shares of Regions Financial Corporation in a research report on Friday, August 11th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Regions Financial Corporation has an average rating of “Hold” and a consensus price target of $15.31.
Regions Financial Corporation 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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