MERIAN GLOBAL INVESTORS UK Ltd Sells 6,242,505 Shares of Regions Financial Corp (RF)
MERIAN GLOBAL INVESTORS UK Ltd cut its holdings in shares of Regions Financial Corp (NYSE:RF) by 85.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,033,523 shares of the bank’s stock after selling 6,242,505 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd owned about 0.09% of Regions Financial worth $18,965,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of RF. GHP Investment Advisors Inc. grew its position in shares of Regions Financial by 1.7% during the third quarter. GHP Investment Advisors Inc. now owns 170,864 shares of the bank’s stock worth $3,135,000 after buying an additional 2,908 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Regions Financial by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 543,480 shares of the bank’s stock worth $9,973,000 after buying an additional 120,324 shares in the last quarter. RWC Asset Management LLP grew its position in shares of Regions Financial by 12.2% during the third quarter. RWC Asset Management LLP now owns 1,124,884 shares of the bank’s stock worth $20,642,000 after buying an additional 122,669 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Regions Financial during the third quarter worth about $836,000. Finally, Dorsey Wright & Associates boosted its holdings in Regions Financial by 3.5% in the third quarter. Dorsey Wright & Associates now owns 169,688 shares of the bank’s stock valued at $3,114,000 after purchasing an additional 5,732 shares in the last quarter. Institutional investors own 74.80% of the company’s stock.
A number of equities analysts recently issued reports on the company. Wedbush set a $22.00 price target on Regions Financial and gave the company a “buy” rating in a report on Friday, September 7th. Vining Sparks reaffirmed a “buy” rating and issued a $22.00 price target on shares of Regions Financial in a report on Tuesday, October 9th. Robert W. Baird raised Regions Financial from an “underperform” rating to a “neutral” rating in a report on Thursday, June 28th. Finally, B. Riley set a $20.00 price target on Regions Financial and gave the company a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.23.
Shares of RF opened at $17.04 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $20.23 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29. Regions Financial Corp has a 52-week low of $14.68 and a 52-week high of $20.21.
Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 20th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts predict that Regions Financial Corp will post 1.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.29%. Regions Financial’s payout ratio is currently 56.00%.
Regions Financial Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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