Signition LP purchased a new stake in Regions Financial Corp (NYSE:RF) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 15,608 shares of the bank’s stock, valued at approximately $270,000.
Other large investors also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. boosted its holdings in shares of Regions Financial by 5.7% during the 3rd quarter. Pinebridge Investments L.P. now owns 758,442 shares of the bank’s stock valued at $11,551,000 after buying an additional 40,919 shares in the last quarter. Cipher Capital LP bought a new stake in shares of Regions Financial during the 3rd quarter valued at $1,160,000. Toronto Dominion Bank boosted its holdings in shares of Regions Financial by 24.8% during the 2nd quarter. Toronto Dominion Bank now owns 408,156 shares of the bank’s stock valued at $5,974,000 after buying an additional 81,188 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Regions Financial by 2.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,084,630 shares of the bank’s stock valued at $31,749,000 after buying an additional 59,100 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. boosted its holdings in shares of Regions Financial by 103.9% during the 3rd quarter. Westbourne Investment Advisors Inc. now owns 75,190 shares of the bank’s stock valued at $1,145,000 after buying an additional 38,315 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.
In other Regions Financial news, EVP Scott M. Peters sold 25,627 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $19.50, for a total value of $499,726.50. Following the completion of the transaction, the executive vice president now owns 240,796 shares of the company’s stock, valued at approximately $4,695,522. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total value of $255,600.00. Following the completion of the transaction, the director now directly owns 59,436 shares of the company’s stock, valued at approximately $1,012,789.44. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.
Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Regions Financial had a return on equity of 7.87% and a net margin of 20.48%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm earned $0.23 EPS. Regions Financial’s revenue was up 5.9% on a year-over-year basis. equities analysts forecast that Regions Financial Corp will post 1.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, March 8th. Regions Financial’s dividend payout ratio (DPR) is 36.00%.
A number of analysts have recently commented on RF shares. Goldman Sachs Group upgraded shares of Regions Financial from a “buy” rating to a “conviction-buy” rating in a report on Thursday, November 16th. JPMorgan Chase & Co. boosted their target price on shares of Regions Financial from $15.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Barclays boosted their target price on shares of Regions Financial from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. SunTrust Banks restated a “buy” rating and set a $19.00 target price on shares of Regions Financial in a report on Wednesday, November 29th. Finally, Robert W. Baird restated a “sell” rating and set a $17.00 target price on shares of Regions Financial in a report on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Regions Financial presently has an average rating of “Hold” and an average target price of $17.24.
About Regions Financial
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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