Short Interest in Regions Financial Corporation (RF) Rises By 20.7%
Regions Financial Corporation (NYSE:RF) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 33,704,181 shares, a growth of 20.7% from the May 15th total of 27,934,737 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 19,621,029 shares, the short-interest ratio is currently 1.7 days.
A number of equities analysts have commented on the stock. Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Instinet reaffirmed a “neutral” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a research note on Wednesday. Goldman Sachs Group, Inc. (The) reduced their target price on Regions Financial Corporation to $17.00 and set a “buy” rating on the stock in a report on Thursday, March 30th. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a research report on Wednesday, April 5th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a research note on Monday, April 3rd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.13.
Regions Financial Corporation (RF) traded down 0.94% during midday trading on Friday, reaching $14.68. The company’s stock had a trading volume of 11,022,540 shares. The company has a market cap of $17.65 billion, a P/E ratio of 16.31 and a beta of 1.32. Regions Financial Corporation has a 12-month low of $8.80 and a 12-month high of $16.03. The firm has a 50 day moving average price of $14.10 and a 200-day moving average price of $14.41.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Tuesday, April 18th. The bank reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Regions Financial Corporation had a return on equity of 7.27% and a net margin of 19.94%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business earned $0.20 EPS. Regions Financial Corporation’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts predict that Regions Financial Corporation will post $0.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 9th were issued a $0.07 dividend. The ex-dividend date was Wednesday, June 7th. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.28 dividend on an annualized basis and a yield of 1.91%. Regions Financial Corporation’s dividend payout ratio is currently 31.11%.
In related news, insider Hardie B. Kimbrough, Jr. sold 34,654 shares of the firm’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $13.56, for a total value of $469,908.24. Following the completion of the transaction, the insider now directly owns 57,305 shares of the company’s stock, valued at $777,055.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Grayson Hall sold 202,231 shares of Regions Financial Corporation stock in a transaction on Friday, April 21st. The stock was sold at an average price of $13.51, for a total transaction of $2,732,140.81. Following the transaction, the chairman now directly owns 494,874 shares of the company’s stock, valued at $6,685,747.74. The disclosure for this sale can be found here. Insiders have sold a total of 396,176 shares of company stock worth $5,418,986 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RF. JPMorgan Chase & Co. raised its stake in shares of Regions Financial Corporation by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock worth $395,848,000 after buying an additional 2,985,752 shares during the last quarter. Toronto Dominion Bank raised its stake in Regions Financial Corporation by 53.9% in the first quarter. Toronto Dominion Bank now owns 326,968 shares of the bank’s stock worth $4,750,000 after buying an additional 114,483 shares in the last quarter. Trexquant Investment LP raised its stake in Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock worth $2,345,000 after buying an additional 33,700 shares in the last quarter. Macquarie Group Ltd. raised its stake in Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock worth $638,000 after buying an additional 14,525 shares in the last quarter. Finally, Elkfork Partners LLC raised its stake in Regions Financial Corporation by 96.9% in the first quarter. Elkfork Partners LLC now owns 809,160 shares of the bank’s stock worth $11,757,000 after buying an additional 398,112 shares in the last quarter. 76.40% of the stock is currently owned by institutional investors.
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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