Lazard Asset Management LLC Boosts Holdings in Regions Financial Corp (NYSE:RF)

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Lazard Asset Management LLC raised its stake in Regions Financial Corp (NYSE:RF) by 239.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,243,297 shares of the bank’s stock after buying an additional 2,287,112 shares during the period. Lazard Asset Management LLC’s holdings in Regions Financial were worth $45,892,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Regions Financial during the 4th quarter valued at $146,362,000. Morgan Stanley raised its stake in Regions Financial by 61.7% during the 3rd quarter. Morgan Stanley now owns 6,996,887 shares of the bank’s stock valued at $128,394,000 after purchasing an additional 2,670,907 shares during the period. Nordea Investment Management AB raised its stake in Regions Financial by 39.3% during the 4th quarter. Nordea Investment Management AB now owns 6,153,907 shares of the bank’s stock valued at $82,334,000 after purchasing an additional 1,737,443 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Regions Financial by 594.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,857,037 shares of the bank’s stock valued at $139,000 after purchasing an additional 1,589,531 shares during the period. Finally, Basswood Capital Management L.L.C. raised its stake in Regions Financial by 59.7% during the 4th quarter. Basswood Capital Management L.L.C. now owns 4,078,802 shares of the bank’s stock valued at $54,574,000 after purchasing an additional 1,524,446 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Several analysts have issued reports on the stock. Raymond James cut their target price on shares of Regions Financial from $19.50 to $18.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 22nd. Morgan Stanley cut their target price on shares of Regions Financial from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. ValuEngine downgraded shares of Regions Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. FIG Partners reissued a “market-perform” rating on shares of Regions Financial in a research note on Thursday, February 21st. Finally, Macquarie downgraded shares of Regions Financial from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.19.

In related news, COO John B. Owen sold 61,756 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $15.25, for a total value of $941,779.00. Following the completion of the sale, the chief operating officer now directly owns 127,152 shares in the company, valued at $1,939,068. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David R. Keenan sold 30,877 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $15.50, for a total transaction of $478,593.50. Following the completion of the sale, the executive vice president now owns 24,321 shares of the company’s stock, valued at $376,975.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,510 shares of company stock worth $1,889,394. 0.28% of the stock is currently owned by corporate insiders.

Shares of Regions Financial stock traded down $0.18 on Wednesday, hitting $14.29. 315,519 shares of the company traded hands, compared to its average volume of 12,435,165. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.88. Regions Financial Corp has a 12-month low of $12.39 and a 12-month high of $19.99. The stock has a market cap of $14.52 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.07 and a beta of 1.51.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Regions Financial had a net margin of 26.38% and a return on equity of 10.76%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company posted $0.35 EPS. Regions Financial’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Regions Financial Corp will post 1.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, June 6th. Regions Financial’s dividend payout ratio is currently 41.18%.

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Regions Financial 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.

Read More: How are institutional investors different from individual investors?

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

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