Regions Financial Corporation (RF) Position Held by Balentine LLC
Balentine LLC maintained its position in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,988 shares of the bank’s stock at the close of the second quarter. Balentine LLC’s holdings in Regions Financial Corporation were worth $600,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in RF. FNY Partners Fund LP acquired a new position in Regions Financial Corporation in the first quarter valued at about $103,000. Lloyds Banking Group plc acquired a new stake in shares of Regions Financial Corporation during the second quarter worth about $108,000. Seven Eight Capital LP acquired a new stake in shares of Regions Financial Corporation during the second quarter worth about $111,000. Sun Life Financial INC raised its position in shares of Regions Financial Corporation by 98,133.3% during the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after purchasing an additional 8,832 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in shares of Regions Financial Corporation by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after purchasing an additional 26 shares during the period. 75.53% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, Director Susan W. Matlock sold 10,000 shares of the company’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 value of $152,300.00. Following the completion of the transaction, the director now directly owns 32,188 shares of the company’s stock, valued at $490,223.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the completion of the transaction, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at $1,811,342. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is currently owned by corporate insiders.
Regions Financial Corporation (NYSE:RF) traded down 0.99% on Monday, reaching $15.06. The company’s stock had a trading volume of 3,717,657 shares. Regions Financial Corporation has a 52-week low of $9.78 and a 52-week high of $16.03. The firm’s 50-day moving average price is $14.30 and its 200 day moving average price is $14.27. The company has a market cap of $18.00 billion, a P/E ratio of 15.74 and a beta of 1.34.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. Regions Financial Corporation’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. Equities analysts anticipate that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a $0.09 dividend. The ex-dividend date was Thursday, September 7th. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 2.37%. Regions Financial Corporation’s dividend payout ratio is currently 37.89%.
Regions Financial Corporation declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $1.47 billion in shares. This repurchase authorization allows the bank to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
RF has been the topic of a number of research analyst reports. BidaskClub lowered Regions Financial Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Vining Sparks raised Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 26th. Robert W. Baird lowered Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research report on Monday, October 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $14.50 price target on shares of Regions Financial Corporation in a research report on Thursday, August 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.50 price target on shares of Regions Financial Corporation in a research report on Friday, September 15th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Regions Financial Corporation presently has a consensus rating of “Hold” and a consensus target price of $15.05.
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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