Regions Financial Corporation (RF) Shares Sold by Aldebaran Financial Inc.
Aldebaran Financial Inc. trimmed its holdings in shares of Regions Financial Corporation (NYSE:RF) by 5.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,305 shares of the bank’s stock after selling 5,598 shares during the period. Aldebaran Financial Inc.’s holdings in Regions Financial Corporation were worth $1,307,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. USA Financial Portformulas Corp increased its holdings in shares of Regions Financial Corporation by 17.1% during the second quarter. USA Financial Portformulas Corp now owns 36,303 shares of the bank’s stock valued at $531,000 after purchasing an additional 5,295 shares during the period. Sentry Investment Management LLC increased its holdings in shares of Regions Financial Corporation by 0.7% during the second quarter. Sentry Investment Management LLC now owns 53,166 shares of the bank’s stock valued at $778,000 after purchasing an additional 345 shares during the period. Toronto Dominion Bank increased its holdings in shares of Regions Financial Corporation by 24.8% during the second quarter. Toronto Dominion Bank now owns 408,156 shares of the bank’s stock valued at $5,974,000 after purchasing an additional 81,188 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of Regions Financial Corporation by 194.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 36,225 shares of the bank’s stock valued at $531,000 after purchasing an additional 23,902 shares during the period. Finally, Koch Industries Inc. acquired a new position in shares of Regions Financial Corporation during the second quarter valued at $614,000. 75.53% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on RF shares. Bank of America Corporation reissued a “buy” rating and set a $17.00 price target on shares of Regions Financial Corporation in a report on Wednesday, July 26th. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 price target on Regions Financial Corporation and gave the company a “hold” rating in a report on Tuesday, June 20th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.95.
Shares of Regions Financial Corporation (RF) traded up 0.438% during trading on Monday, reaching $14.895. The company had a trading volume of 2,833,639 shares. Regions Financial Corporation has a 52-week low of $9.87 and a 52-week high of $16.03. The firm has a market capitalization of $17.80 billion, a P/E ratio of 15.564 and a beta of 1.34. The company has a 50 day moving average of $14.41 and a 200-day moving average of $14.30.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business 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 firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. Equities analysts expect that Regions Financial Corporation will post $1.00 earnings per share for the current 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 repurchase $1.47 billion in shares. This repurchase authorization allows the bank to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.43%. 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 currently 37.89%.
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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 value of $971,750.00. Following the completion of the sale, the chief financial officer now directly owns 121,160 shares in the company, valued at $1,811,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction dated 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 sale, the director now owns 32,188 shares of the company’s stock, valued at $490,223.24. The disclosure for this sale can be found here. Insiders sold 124,514 shares of company stock valued at $1,846,733 in the last quarter. 0.52% of the stock is currently owned by corporate 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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