Dimensional Fund Advisors LP raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,430,899 shares of the bank’s stock after purchasing an additional 382,430 shares during the period. Dimensional Fund Advisors LP owned 1.24% of Regions Financial worth $219,767,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Janus Henderson Group PLC lifted its holdings in shares of Regions Financial by 8,065.3% in the 2nd quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock valued at $191,306,000 after acquiring an additional 12,907,276 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Regions Financial by 257.2% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 9,538,317 shares of the bank’s stock valued at $145,268,000 after acquiring an additional 6,868,243 shares during the last quarter. Samlyn Capital LLC lifted its holdings in shares of Regions Financial by 63.0% in the 2nd quarter. Samlyn Capital LLC now owns 9,074,895 shares of the bank’s stock valued at $132,856,000 after acquiring an additional 3,506,995 shares during the last quarter. Shapiro Capital Management LLC bought a new position in shares of Regions Financial in the 2nd quarter valued at about $47,308,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Regions Financial by 66.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,319,165 shares of the bank’s stock valued at $92,513,000 after acquiring an additional 2,517,411 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on RF shares. BidaskClub downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.50 price target on shares of Regions Financial in a report on Wednesday, August 16th. Piper Jaffray Companies reissued a “hold” rating and issued a $14.50 price objective on shares of Regions Financial in a research note on Thursday, August 17th. Robert W. Baird downgraded shares of Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a research note on Monday, October 2nd. Finally, Citigroup reissued a “neutral” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Regions Financial in a research note on Monday, October 9th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $15.63.
Regions Financial (NYSE:RF) last issued its earnings results on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a net margin of 20.14% and a return on equity of 7.56%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. research analysts predict that Regions Financial Corporation will post 0.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, December 7th. Regions Financial’s dividend payout ratio (DPR) is presently 37.89%.
In other news, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $17.04, for a total transaction of $255,600.00. Following the transaction, the director now directly owns 59,436 shares of the company’s stock, valued at $1,012,789.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John B. Owen sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total transaction of $626,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,000 shares of company stock worth $1,278,400. Corporate insiders own 0.52% of the company’s stock.
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Regions Financial 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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