Brant Point Investment Management LLC purchased a new stake in shares of Regions Financial Corporation (NYSE:RF) in the second quarter, according to its most recent filing with the SEC. The firm purchased 685,000 shares of the bank’s stock, valued at approximately $10,028,000. Regions Financial Corporation accounts for about 1.2% of Brant Point Investment Management LLC’s portfolio, making the stock its 8th largest position. Brant Point Investment Management LLC owned about 0.06% of Regions Financial Corporation at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RF. BlackRock Inc. lifted its position in shares of Regions Financial Corporation by 3,130.8% during the 1st quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after acquiring an additional 89,604,919 shares during the period. Boston Partners lifted its position in shares of Regions Financial Corporation by 506.1% during the 2nd quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock valued at $475,815,000 after acquiring an additional 27,138,273 shares during the period. Janus Capital Management LLC lifted its position in shares of Regions Financial Corporation by 733.1% during the 1st quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock valued at $146,296,000 after acquiring an additional 8,859,912 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Regions Financial Corporation during the 1st quarter valued at approximately $56,133,000. Finally, Morgan Stanley lifted its position in shares of Regions Financial Corporation by 59.4% during the 1st quarter. Morgan Stanley now owns 9,543,145 shares of the bank’s stock valued at $138,661,000 after acquiring an additional 3,554,504 shares during the period. Institutional investors own 75.56% of the company’s stock.

In related 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 in the company, valued at approximately $1,811,342. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott M. Peters sold 13,689 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total transaction of $199,996.29. Following the completion of the sale, the executive vice president now owns 147,528 shares of the company’s stock, valued at approximately $2,155,384.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is owned by insiders.

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A number of equities research analysts have recently issued reports on the stock. Deutsche Bank AG reiterated a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. BidaskClub upgraded shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Instinet reiterated a “neutral” rating and set a $16.00 price target on shares of Regions Financial Corporation in a research report on Wednesday, July 12th. Wells Fargo & Company assumed coverage on shares of Regions Financial Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $16.00 price target for the company. Finally, Vining Sparks upgraded shares of Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.89.

Regions Financial Corporation (RF) traded down 0.35% during mid-day trading on Wednesday, reaching $14.10. 4,408,265 shares of the company’s stock traded hands. Regions Financial Corporation has a 52-week low of $9.45 and a 52-week high of $16.03. The company has a 50-day moving average of $14.18 and a 200-day moving average of $14.27. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 14.73 and a beta of 1.33.

Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 EPS. Equities research analysts expect that Regions Financial Corporation will post $1.00 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Thursday, September 7th. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio is 37.89%.

Regions Financial Corporation announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in shares. This repurchase authorization permits the bank to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.

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

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