Dynamic Technology Lab Private Ltd boosted its position in Regions Financial Corporation (NYSE:RF) by 194.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,225 shares of the bank’s stock after acquiring an additional 23,902 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Regions Financial Corporation were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RF. OppenheimerFunds Inc. increased its stake in Regions Financial Corporation by 18.5% in the first quarter. OppenheimerFunds Inc. now owns 57,510 shares of the bank’s stock valued at $836,000 after acquiring an additional 8,970 shares during the last quarter. Wellington Management Group LLP increased its stake in Regions Financial Corporation by 667.7% in the first quarter. Wellington Management Group LLP now owns 896,549 shares of the bank’s stock valued at $13,028,000 after acquiring an additional 779,760 shares during the last quarter. Teachers Advisors LLC increased its stake in Regions Financial Corporation by 11.6% in the first quarter. Teachers Advisors LLC now owns 6,545,258 shares of the bank’s stock valued at $95,103,000 after acquiring an additional 681,822 shares during the last quarter. Ngam Advisors L.P. increased its stake in Regions Financial Corporation by 19.7% in the first quarter. Ngam Advisors L.P. now owns 39,135 shares of the bank’s stock valued at $569,000 after acquiring an additional 6,451 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in Regions Financial Corporation by 2.7% in the first quarter. Thrivent Financial For Lutherans now owns 44,227 shares of the bank’s stock valued at $643,000 after acquiring an additional 1,170 shares during the last quarter. 75.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regions Financial Corporation (NYSE RF) opened at 15.22 on Friday. Regions Financial Corporation has a 12-month low of $10.32 and a 12-month high of $16.03. The stock has a market capitalization of $18.19 billion, a price-to-earnings ratio of 15.90 and a beta of 1.34. The stock’s 50 day moving average is $14.51 and its 200-day moving average is $14.31.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company earned $0.20 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current year.
Regions Financial Corporation announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $1.47 billion in shares. This repurchase authorization allows the bank to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a $0.09 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.37%. Regions Financial Corporation’s payout ratio is presently 37.89%.
A number of research firms recently commented on RF. Robert W. Baird cut Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 target price on the stock. in a research note on Monday, October 2nd. Citigroup Inc. reissued a “neutral” rating and issued a $16.00 target price (up previously from $15.00) on shares of Regions Financial Corporation in a research note on Monday, October 9th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.00 target price on shares of Regions Financial Corporation in a research note on Tuesday, October 3rd. FBR & Co cut Regions Financial Corporation from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Tuesday, October 10th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.95.
In other news, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the completion of the sale, the chief financial officer now owns 121,160 shares of the company’s stock, valued at approximately $1,811,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan W. Matlock sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $15.23, for a total transaction of $152,300.00. Following the completion of the sale, the director now directly owns 32,188 shares of the company’s stock, valued at approximately $490,223.24. The disclosure for this sale can be found here. Insiders sold a total of 124,514 shares of company stock valued at $1,846,733 in the last ninety days. Corporate insiders own 0.52% of the company’s stock.
Regions Financial Corporation 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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