Nationwide Fund Advisors Sells 13,074 Shares of Regions Financial Corp. (RF)
Nationwide Fund Advisors lowered its stake in Regions Financial Corp. (NYSE:RF) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 388,355 shares of the company’s stock after selling 13,074 shares during the period. Nationwide Fund Advisors’ holdings in Regions Financial Corp. were worth $3,305,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Kanaly Trust Co increased its stake in shares of Regions Financial Corp. by 9.6% in the second quarter. Kanaly Trust Co now owns 13,044 shares of the company’s stock valued at $111,000 after buying an additional 1,145 shares during the period. Paradigm Financial Advisors LLC bought a new stake in shares of Regions Financial Corp. during the second quarter valued at $119,000. Savant Capital LLC increased its stake in shares of Regions Financial Corp. by 18.3% in the second quarter. Savant Capital LLC now owns 14,227 shares of the company’s stock valued at $121,000 after buying an additional 2,200 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Regions Financial Corp. during the second quarter valued at $123,000. Finally, IFC Holdings Incorporated FL increased its stake in shares of Regions Financial Corp. by 18.0% in the second quarter. IFC Holdings Incorporated FL now owns 15,823 shares of the company’s stock valued at $129,000 after buying an additional 2,412 shares during the period. Institutional investors own 74.29% of the company’s stock.
Regions Financial Corp. (NYSE:RF) traded down 0.145% during midday trading on Friday, hitting $10.305. The stock had a trading volume of 6,668,206 shares. The stock has a market cap of $12.93 billion, a PE ratio of 12.962 and a beta of 1.44. The firm has a 50 day moving average price of $9.80 and a 200 day moving average price of $9.17. Regions Financial Corp. has a one year low of $7.00 and a one year high of $10.43.
Regions Financial Corp. (NYSE:RF) last released its earnings results on Tuesday, July 19th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.01. The firm earned $1.40 billion during the quarter, compared to analyst estimates of $1.37 billion. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. Equities analysts expect that Regions Financial Corp. will post $0.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a $0.065 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.26 dividend on an annualized basis and a yield of 2.52%. Regions Financial Corp.’s dividend payout ratio (DPR) is 32.91%.
Several research analysts have recently issued reports on RF shares. Raymond James Financial Inc. cut Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating in a research report on Thursday. Jefferies Group reaffirmed a “buy” rating and set a $9.50 price objective on shares of Regions Financial Corp. in a research report on Thursday, July 7th. TheStreet cut Regions Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Regions Financial Corp. in a research report on Saturday, July 9th. Finally, Sanford C. Bernstein cut Regions Financial Corp. from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $9.56 to $9.50 in a research report on Tuesday, August 16th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $10.38.
In other Regions Financial Corp. news, EVP Scott M. Peters sold 23,391 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $9.73, for a total value of $227,594.43. Following the transaction, the executive vice president now owns 201,391 shares of the company’s stock, valued at $1,959,534.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ellen S. Jones sold 10,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $9.53, for a total value of $95,300.00. Following the completion of the transaction, the executive vice president now directly owns 54,886 shares in the company, valued at approximately $523,063.58. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
About Regions Financial Corp.
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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