BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Regions Financial Corporation (NYSE:RF) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,271,870 shares of the bank’s stock after selling 140,364 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Regions Financial Corporation were worth $18,620,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Regions Financial Corporation by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock worth $1,343,545,000 after buying an additional 89,604,919 shares in the last quarter. Boston Partners raised its stake in shares of Regions Financial Corporation by 506.1% in the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock worth $475,815,000 after buying an additional 27,138,273 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Regions Financial Corporation by 733.1% in the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock worth $146,296,000 after buying an additional 8,859,912 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Regions Financial Corporation by 250.9% in the first quarter. First Trust Advisors LP now owns 6,968,932 shares of the bank’s stock worth $101,259,000 after buying an additional 4,982,921 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Regions Financial Corporation during the first quarter worth $56,133,000. 76.61% of the stock is currently owned by institutional investors.

Shares of Regions Financial Corporation (RF) opened at 14.41 on Tuesday. The stock has a market capitalization of $17.22 billion, a PE ratio of 15.06 and a beta of 1.31. Regions Financial Corporation has a 1-year low of $9.37 and a 1-year high of $16.03. The firm has a 50-day moving average of $14.56 and a 200 day moving average of $14.47.

Regions Financial Corporation (NYSE:RF) last issued its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. On average, equities analysts anticipate that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.50%. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio (DPR) is presently 29.47%.

Regions Financial Corporation announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in shares. This repurchase authorization permits the bank to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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RF has been the subject of a number of research reports. Rafferty Capital Markets downgraded shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Thursday, April 20th. Bank of America Corporation upgraded shares of Regions Financial Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $15.00 to $17.00 in a research report on Thursday, May 4th. Royal Bank Of Canada reiterated a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Argus downgraded shares of Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research report on Monday, May 1st. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.21.

In related news, EVP Fournier J. Gale III sold 35,825 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total value of $522,686.75. Following the completion of the sale, the executive vice president now owns 109,318 shares in the company, valued at approximately $1,594,949.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott M. Peters sold 13,689 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total transaction of $199,996.29. Following the completion of the sale, the executive vice president now owns 147,528 shares of the company’s stock, valued at approximately $2,155,384.08. The disclosure for this sale can be found here. Insiders have sold 124,514 shares of company stock valued at $1,846,733 over the last 90 days. 0.52% of the stock is currently owned by insiders.

Regions Financial Corporation 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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Institutional Ownership by Quarter for Regions Financial Corporation (NYSE:RF)

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