NEXT Financial Group Inc acquired a new position in Regions Financial Corp (NYSE:RF) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,155 shares of the bank’s stock, valued at approximately $150,000.
Several other large investors have also added to or reduced their stakes in RF. Parallel Advisors LLC boosted its holdings in Regions Financial by 87.3% during the second quarter. Parallel Advisors LLC now owns 6,062 shares of the bank’s stock worth $107,000 after buying an additional 2,825 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Regions Financial by 8,481.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,522 shares of the bank’s stock worth $116,000 after buying an additional 6,446 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Regions Financial during the second quarter worth $116,000. Summit Trail Advisors LLC boosted its holdings in Regions Financial by 1,646.8% during the first quarter. Summit Trail Advisors LLC now owns 134,102 shares of the bank’s stock worth $134,000 after buying an additional 126,425 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Regions Financial by 61.6% during the second quarter. Advisory Services Network LLC now owns 7,694 shares of the bank’s stock worth $141,000 after buying an additional 2,933 shares in the last quarter. Hedge funds and other institutional investors own 74.80% of the company’s stock.
A number of brokerages recently issued reports on RF. Robert W. Baird raised shares of Regions Financial from an “underperform” rating to a “neutral” rating in a report on Thursday, June 28th. Vining Sparks reaffirmed a “buy” rating and set a $22.00 price objective on shares of Regions Financial in a report on Tuesday. Royal Bank of Canada raised shares of Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a report on Monday, June 18th. ValuEngine downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Finally, Wedbush set a $22.00 price objective on shares of Regions Financial and gave the company a “buy” rating in a report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.23.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 20th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 22.77% and a return on equity of 9.46%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, research analysts anticipate that Regions Financial Corp will post 1.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Regions Financial’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, September 6th. Regions Financial’s dividend payout ratio is 56.00%.
In other news, Director Susan W. Matlock sold 24,000 shares of the stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $18.50, for a total value of $444,000.00. Following the completion of the sale, the director now directly owns 14,914 shares in the company, valued at $275,909. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP C. Keith Herron sold 23,186 shares of the stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $18.76, for a total transaction of $434,969.36. Following the completion of the sale, the executive vice president now owns 204,537 shares of the company’s stock, valued at $3,837,114.12. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.
Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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