Hancock Holding Co. Sells 3,663 Shares of Regions Financial Corporation (RF)
Hancock Holding Co. lessened its holdings in Regions Financial Corporation (NYSE:RF) by 19.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,941 shares of the bank’s stock after selling 3,663 shares during the quarter. Hancock Holding Co.’s holdings in Regions Financial Corporation were worth $219,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. FNY Partners Fund LP purchased a new position in shares of Regions Financial Corporation during the first quarter valued at approximately $103,000. Lloyds Banking Group plc bought a new stake in shares of Regions Financial Corporation in the 2nd quarter worth approximately $108,000. Seven Eight Capital LP bought a new stake in shares of Regions Financial Corporation in the 2nd quarter worth approximately $111,000. Captrust Financial Advisors bought a new stake in shares of Regions Financial Corporation in the 2nd quarter worth approximately $139,000. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of Regions Financial Corporation in the 1st quarter worth approximately $146,000. Institutional investors and hedge funds own 75.56% of the company’s stock.
RF has been the topic of several recent research reports. Robert W. Baird downgraded Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research note on Monday. Piper Jaffray Companies reiterated a “hold” rating and set a $14.50 price objective on shares of Regions Financial Corporation in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.50 price objective on shares of Regions Financial Corporation in a research note on Friday, September 15th. BidaskClub downgraded Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a report on Friday, August 11th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Regions Financial Corporation currently has a consensus rating of “Hold” and a consensus target price of $14.80.
In other Regions Financial Corporation news, CFO David J. Turner, Jr. sold 65,000 shares of the stock in a transaction dated Monday, August 7th. The stock was 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 approximately $1,811,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fournier J. Gale III sold 35,825 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total value of $522,686.75. Following the sale, the executive vice president now directly owns 109,318 shares in the company, valued at $1,594,949.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,514 shares of company stock worth $1,846,733. 0.52% of the stock is owned by corporate insiders.
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Shares of Regions Financial Corporation (NYSE:RF) opened at 15.23 on Monday. The firm’s 50 day moving average price is $14.18 and its 200-day moving average price is $14.27. The company has a market capitalization of $18.20 billion, a P/E ratio of 15.91 and a beta of 1.34. Regions Financial Corporation has a 1-year low of $9.66 and a 1-year high of $16.03.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Friday, July 21st. The bank reported $0.25 EPS 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 the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Analysts expect that Regions Financial Corporation will post $1.00 EPS for the current year.
Regions Financial Corporation announced that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization authorizes the bank to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, September 7th. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio is 37.89%.
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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