Fisher Asset Management LLC Has $9,618,000 Stake in Regions Financial Corp. (RF)
Fisher Asset Management LLC cut its stake in Regions Financial Corp. (NYSE:RF) by 20.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 974,512 shares of the company’s stock after selling 246,645 shares during the period. Fisher Asset Management LLC owned about 0.08% of Regions Financial Corp. worth $9,618,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Regions Financial Corp. by 1.0% in the second quarter. Vanguard Group Inc. now owns 127,898,103 shares of the company’s stock valued at $1,088,413,000 after buying an additional 1,317,327 shares in the last quarter. FMR LLC boosted its position in Regions Financial Corp. by 3.0% in the second quarter. FMR LLC now owns 113,805,979 shares of the company’s stock valued at $968,488,000 after buying an additional 3,323,092 shares in the last quarter. State Street Corp boosted its position in Regions Financial Corp. by 1.9% in the second quarter. State Street Corp now owns 66,867,165 shares of the company’s stock valued at $569,040,000 after buying an additional 1,241,187 shares in the last quarter. LSV Asset Management boosted its position in Regions Financial Corp. by 2.7% in the second quarter. LSV Asset Management now owns 33,211,384 shares of the company’s stock valued at $282,628,000 after buying an additional 865,037 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Regions Financial Corp. by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,662,721 shares of the company’s stock valued at $107,754,000 after buying an additional 34,205 shares in the last quarter. 74.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regions Financial Corp. (NYSE:RF) traded up 0.45% during mid-day trading on Friday, reaching $13.36. The company’s stock had a trading volume of 7,301,040 shares. Regions Financial Corp. has a 52 week low of $7.00 and a 52 week high of $13.54. The stock has a market capitalization of $16.45 billion, a price-to-earnings ratio of 15.70 and a beta of 1.35. The company’s 50-day moving average is $11.34 and its 200-day moving average is $9.86.
Regions Financial Corp. (NYSE:RF) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Regions Financial Corp. had a return on equity of 7.03% and a net margin of 19.43%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Equities analysts predict that Regions Financial Corp. will post $0.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, December 7th. Regions Financial Corp.’s payout ratio is currently 30.59%.
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Several research firms have recently weighed in on RF. Raymond James Financial Inc. cut Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 price target for the company. in a research note on Thursday, October 6th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $11.50 price objective (up previously from $11.00) on shares of Regions Financial Corp. in a research report on Friday, October 21st. TheStreet upgraded Regions Financial Corp. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Sandler O’Neill cut Regions Financial Corp. from a “buy” rating to a “hold” rating and set a $11.50 price objective for the company. in a research report on Tuesday, November 8th. Finally, Barclays PLC reiterated a “sell” rating and set a $10.00 price objective on shares of Regions Financial Corp. in a research report on Tuesday, October 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Regions Financial Corp. currently has an average rating of “Hold” and an average target price of $10.44.
In other news, EVP Brett D. Couch sold 32,342 shares of the stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $10.63, for a total value of $343,795.46. Following the sale, the executive vice president now directly owns 251,064 shares in the company, valued at $2,668,810.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William E. Horton sold 12,000 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $13.17, for a total value of $158,040.00. Following the completion of the sale, the executive vice president now owns 19,434 shares in the company, valued at $255,945.78. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.
Regions Financial Corp. 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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