Profund Advisors LLC Increases Stock Position in Regions Financial Corp (NYSE:RF)

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Profund Advisors LLC grew its stake in shares of Regions Financial Corp (NYSE:RF) by 32.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,054 shares of the bank’s stock after buying an additional 8,267 shares during the period. Profund Advisors LLC’s holdings in Regions Financial were worth $509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RF. Geode Capital Management LLC lifted its holdings in Regions Financial by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,010,538 shares of the bank’s stock worth $200,519,000 after buying an additional 432,350 shares in the last quarter. Northern Trust Corp raised its stake in shares of Regions Financial by 0.8% in the 1st quarter. Northern Trust Corp now owns 12,774,641 shares of the bank’s stock valued at $180,761,000 after purchasing an additional 99,218 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Regions Financial by 4.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,577,935 shares of the bank’s stock valued at $113,214,000 after purchasing an additional 349,158 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Regions Financial by 15.9% in the 2nd quarter. Janus Henderson Group PLC now owns 6,939,658 shares of the bank’s stock valued at $103,675,000 after purchasing an additional 953,190 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Regions Financial by 4.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,299,188 shares of the bank’s stock valued at $91,840,000 after purchasing an additional 251,047 shares in the last quarter. 71.45% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on RF shares. Morgan Stanley set a $16.00 target price on shares of Regions Financial and gave the company a “hold” rating in a research note on Friday, August 9th. Raymond James set a $18.50 target price on shares of Regions Financial and gave the company a “buy” rating in a research note on Thursday, September 12th. SunTrust Banks cut their target price on shares of Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Bank of America lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $18.00 to $16.00 in a research note on Thursday, July 11th. Finally, Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and upped their target price for the company from $15.00 to $17.00 in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Regions Financial has an average rating of “Hold” and a consensus target price of $17.34.

In other news, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $14.68, for a total value of $104,932.64. Following the completion of the transaction, the insider now directly owns 34,482 shares in the company, valued at $506,195.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP C. Keith Herron sold 69,288 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $14.51, for a total transaction of $1,005,368.88. Following the completion of the transaction, the executive vice president now owns 232,595 shares of the company’s stock, valued at $3,374,953.45. The disclosure for this sale can be found here. Insiders sold 136,436 shares of company stock valued at $2,024,102 over the last quarter. Insiders own 0.28% of the company’s stock.

NYSE RF traded down $0.09 on Thursday, hitting $16.26. The stock had a trading volume of 328,841 shares, compared to its average volume of 10,051,000. Regions Financial Corp has a one year low of $12.39 and a one year high of $19.55. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.60. The stock has a market cap of $16.40 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.52 and a beta of 1.54. The company’s 50-day moving average is $14.81 and its two-hundred day moving average is $14.91.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. Regions Financial’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, sell-side analysts anticipate that Regions Financial Corp will post 1.54 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $0.155 dividend. The ex-dividend date is Thursday, September 5th. This is a boost from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a dividend yield of 3.81%. Regions Financial’s dividend payout ratio (DPR) is 45.59%.

Regions Financial announced that its Board of Directors has authorized a share buyback program on Thursday, June 27th that allows the company to buyback $1.37 billion in shares. This buyback authorization allows the bank to purchase up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Regions Financial Company 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.

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

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