Short Interest in Regions Financial Corporation (RF) Decreases By 26.4%
Regions Financial Corporation (NYSE:RF) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 20,741,345 shares, a drop of 26.4% from the October 13th total of 28,196,705 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 12,720,363 shares, the days-to-cover ratio is presently 1.6 days.
Shares of Regions Financial Corporation (NYSE RF) opened at $15.69 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.39. Regions Financial Corporation has a one year low of $12.80 and a one year high of $16.03. The company has a market capitalization of $17,596.76, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. Regions Financial Corporation had a return on equity of 7.56% and a net margin of 20.14%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. equities research analysts expect that Regions Financial Corporation will post 0.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a $0.09 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.29%. Regions Financial Corporation’s dividend payout ratio (DPR) is presently 37.50%.
RF has been the topic of a number of recent research reports. Bank of America Corporation reissued a “buy” rating and set a $17.00 price target on shares of Regions Financial Corporation in a research note on Wednesday, July 26th. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Piper Jaffray Companies reissued a “hold” rating and set a $14.50 price target on shares of Regions Financial Corporation in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.50 price target on shares of Regions Financial Corporation in a research note on Friday, September 15th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.31.
In other news, EVP John B. Owen sold 40,000 shares of Regions Financial Corporation stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total transaction of $626,800.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott M. Peters sold 25,000 shares of Regions Financial Corporation stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $15.84, for a total value of $396,000.00. Following the sale, the executive vice president now directly owns 121,459 shares in the company, valued at $1,923,910.56. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Regions Financial Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 134,473,976 shares of the bank’s stock valued at $1,968,699,000 after acquiring an additional 1,742,890 shares during the period. Boston Partners grew its stake in Regions Financial Corporation by 3.7% in the third quarter. Boston Partners now owns 33,692,511 shares of the bank’s stock valued at $513,137,000 after acquiring an additional 1,191,474 shares during the period. LSV Asset Management grew its stake in Regions Financial Corporation by 1.1% in the second quarter. LSV Asset Management now owns 27,572,058 shares of the bank’s stock valued at $403,654,000 after acquiring an additional 295,476 shares during the period. Dimensional Fund Advisors LP grew its stake in Regions Financial Corporation by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 14,430,899 shares of the bank’s stock valued at $219,767,000 after acquiring an additional 382,430 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Regions Financial Corporation by 8,065.3% in the second quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock valued at $191,306,000 after acquiring an additional 12,907,276 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.
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About Regions Financial Corporation
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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