Mutual of America Capital Management LLC Sells 2,440 Shares of Regions Financial Corporation (RF)
Mutual of America Capital Management LLC trimmed its holdings in shares of Regions Financial Corporation (NYSE:RF) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,919 shares of the bank’s stock after selling 2,440 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Regions Financial Corporation were worth $2,136,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FNY Partners Fund LP purchased a new stake in Regions Financial Corporation in the first quarter worth about $103,000. Lloyds Banking Group plc bought a new position in shares of Regions Financial Corporation in the second quarter worth about $108,000. Seven Eight Capital LP bought a new position in shares of Regions Financial Corporation in the second quarter worth about $111,000. Captrust Financial Advisors bought a new position in shares of Regions Financial Corporation in the second quarter worth about $139,000. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Regions Financial Corporation in the first quarter worth about $146,000. Institutional investors own 75.56% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Robert W. Baird lowered shares of Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 target price for the company. in a report on Monday. Keefe, Bruyette & Woods restated a “hold” rating and set a $15.00 target price on shares of Regions Financial Corporation in a research note on Tuesday. Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Instinet reiterated a “neutral” rating and issued a $16.00 price target on shares of Regions Financial Corporation in a research report on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.78.
In related news, Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $15.23, for a total transaction of $152,300.00. Following the completion of the sale, the director now directly owns 32,188 shares in the company, valued at $490,223.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott M. Peters sold 13,689 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $14.61, for a total value of $199,996.29. Following the sale, the executive vice president now owns 147,528 shares of the company’s stock, valued at $2,155,384.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,514 shares of company stock worth $1,846,733. Company insiders own 0.52% of the company’s stock.
Shares of Regions Financial Corporation (NYSE RF) opened at 15.17 on Wednesday. Regions Financial Corporation has a 1-year low of $9.78 and a 1-year high of $16.03. The company’s 50-day moving average is $14.22 and its 200-day moving average is $14.25. The stock has a market cap of $18.13 billion, a P/E ratio of 15.85 and a beta of 1.34.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business earned $0.20 EPS. Regions Financial Corporation’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts expect that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
Regions Financial Corporation announced that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $1.47 billion in outstanding shares. This buyback authorization allows the bank to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.37%. The ex-dividend date 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 (DPR) is 37.89%.
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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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