Martingale Asset Management L P Buys 1,908 Shares of Regions Financial Corporation (RF)
Martingale Asset Management L P increased its stake in Regions Financial Corporation (NYSE:RF) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 114,979 shares of the bank’s stock after buying an additional 1,908 shares during the period. Martingale Asset Management L P’s holdings in Regions Financial Corporation were worth $1,684,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of RF. FNY Partners Fund LP purchased a new stake in shares of Regions Financial Corporation in the 1st quarter worth approximately $103,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of Regions Financial Corporation by 10.2% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock worth $104,000 after buying an additional 666 shares during the last quarter. Lloyds Banking Group plc purchased a new stake in shares of Regions Financial Corporation in the 2nd quarter worth approximately $108,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Regions Financial Corporation in the 1st quarter worth approximately $146,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Regions Financial Corporation in the 1st quarter worth approximately $148,000. Institutional investors own 75.56% of the company’s stock.
Regions Financial Corporation (RF) opened at 14.31 on Thursday. The company has a market capitalization of $17.10 billion, a PE ratio of 14.95 and a beta of 1.33. The company has a 50-day moving average price of $14.18 and a 200-day moving average price of $14.27. Regions Financial Corporation has a one year low of $9.45 and a one year high of $16.03.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. Analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 7th. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.52%. Regions Financial Corporation’s payout ratio is 37.89%.
Regions Financial Corporation declared that its board has initiated a share repurchase plan on Wednesday, June 28th that allows the company to buyback $1.47 billion in shares. This buyback authorization allows the bank to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Several analysts recently weighed in on RF shares. Bank of America Corporation restated a “buy” rating and issued a $17.00 price target on shares of Regions Financial Corporation in a research note on Wednesday, July 26th. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 price objective on Regions Financial Corporation and gave the company a “hold” rating in a research report on Tuesday, June 20th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Regions Financial Corporation currently has an average rating of “Hold” and an average target price of $14.89.
In other news, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the sale, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at $1,811,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $15.23, for a total transaction of $152,300.00. Following the sale, the director now directly owns 32,188 shares in the company, valued at $490,223.24. The disclosure for this sale can be found here. Insiders have sold 124,514 shares of company stock worth $1,846,733 over the last three months. Corporate insiders own 0.52% of the company’s stock.
Regions Financial Corporation 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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