Guggenheim Capital LLC Has $58.85 Million Position in Regions Financial Corp (RF)
Guggenheim Capital LLC lessened its stake in Regions Financial Corp (NYSE:RF) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,405,302 shares of the bank’s stock after selling 154,658 shares during the quarter. Guggenheim Capital LLC’s holdings in Regions Financial were worth $58,846,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of RF. Brown Advisory Securities LLC raised its stake in Regions Financial by 10.1% during the fourth quarter. Brown Advisory Securities LLC now owns 36,573 shares of the bank’s stock worth $633,000 after acquiring an additional 3,348 shares in the last quarter. BancorpSouth Bank acquired a new position in shares of Regions Financial during the fourth quarter worth approximately $949,000. Pinebridge Investments L.P. raised its position in shares of Regions Financial by 5.7% during the third quarter. Pinebridge Investments L.P. now owns 758,442 shares of the bank’s stock worth $11,551,000 after purchasing an additional 40,919 shares during the period. Toronto Dominion Bank raised its position in shares of Regions Financial by 10.6% during the fourth quarter. Toronto Dominion Bank now owns 501,735 shares of the bank’s stock worth $8,669,000 after purchasing an additional 48,117 shares during the period. Finally, Cipher Capital LP acquired a new position in shares of Regions Financial during the third quarter worth approximately $1,160,000. 76.33% of the stock is owned by institutional investors and hedge funds.
Shares of Regions Financial Corp (RF) opened at $19.71 on Wednesday. Regions Financial Corp has a 12-month low of $13.00 and a 12-month high of $20.21. The stock has a market capitalization of $22,361.49, a price-to-earnings ratio of 19.92, a PEG ratio of 1.48 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 0.86.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, March 8th. Regions Financial’s dividend payout ratio is presently 36.00%.
A number of equities analysts have recently weighed in on RF shares. Goldman Sachs Group raised Regions Financial from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, November 16th. SunTrust Banks reaffirmed a “buy” rating and set a $19.00 target price on shares of Regions Financial in a research report on Wednesday, November 29th. UBS Group raised Regions Financial from a “sell” rating to a “neutral” rating and upped their target price for the stock from $15.00 to $18.00 in a research report on Tuesday, December 12th. Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Thursday, December 21st. Finally, Barclays upped their target price on Regions Financial from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Regions Financial currently has an average rating of “Hold” and an average target price of $17.24.
In other news, EVP Ronald G. Smith sold 92,301 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $19.32, for a total transaction of $1,783,255.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott M. Peters sold 25,627 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total value of $499,726.50. Following the sale, the executive vice president now directly owns 240,796 shares of the company’s stock, valued at $4,695,522. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
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Regions Financial 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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