Norinchukin Bank The Purchases 11,795 Shares of Regions Financial Corporation (RF)
Norinchukin Bank The increased its position in shares of Regions Financial Corporation (NYSE:RF) by 7.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 168,612 shares of the bank’s stock after buying an additional 11,795 shares during the period. Norinchukin Bank The’s holdings in Regions Financial Corporation were worth $2,468,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in RF. IFC Holdings Incorporated FL increased its stake in Regions Financial Corporation by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 20,289 shares of the bank’s stock valued at $295,000 after purchasing an additional 58 shares during the last quarter. Advisor Partners LLC increased its stake in Regions Financial Corporation by 0.3% in the second quarter. Advisor Partners LLC now owns 20,041 shares of the bank’s stock valued at $293,000 after purchasing an additional 59 shares during the last quarter. Lbmc Investment Advisors LLC increased its stake in Regions Financial Corporation by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 31,904 shares of the bank’s stock valued at $467,000 after purchasing an additional 109 shares during the last quarter. Huntington National Bank increased its stake in Regions Financial Corporation by 0.9% in the second quarter. Huntington National Bank now owns 17,347 shares of the bank’s stock valued at $254,000 after purchasing an additional 161 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in Regions Financial Corporation by 1.6% in the second quarter. Park Avenue Securities LLC now owns 10,833 shares of the bank’s stock valued at $161,000 after purchasing an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
In related news, Director Susan W. Matlock sold 10,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 32,188 shares in the company, valued at approximately $490,223.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.95, for a total value of $971,750.00. Following the transaction, the chief financial officer now owns 121,160 shares of the company’s stock, valued at $1,811,342. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is owned by company insiders.
Several brokerages have commented on RF. Instinet increased their price target on shares of Regions Financial Corporation from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, June 30th. Royal Bank Of Canada reiterated a “hold” rating and issued a $15.00 price target on shares of Regions Financial Corporation in a research note on Thursday, May 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 price target on shares of Regions Financial Corporation in a research note on Wednesday, August 16th. Wells Fargo & Company began coverage on shares of Regions Financial Corporation in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $16.00 price target on the stock. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial Corporation currently has an average rating of “Hold” and an average price target of $14.89.
Shares of Regions Financial Corporation (NYSE:RF) traded up 0.22% during midday trading on Friday, hitting $13.72. The company had a trading volume of 1,483,044 shares. The stock’s 50-day moving average price is $14.22 and its 200-day moving average price is $14.32. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 14.34 and a beta of 1.33. Regions Financial Corporation has a 12 month low of $9.45 and a 12 month high of $16.03.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. On average, equities research analysts forecast that Regions Financial Corporation will post $1.00 EPS for the current year.
Regions Financial Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $1.47 billion in shares. This buyback authorization allows the bank to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.09 per share. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio is presently 37.89%.
Regions Financial Corporation Company 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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