Principal Financial Group Inc. Sells 25,906 Shares of Regions Financial Corporation (RF)
Principal Financial Group Inc. lessened its position in Regions Financial Corporation (NYSE:RF) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,889,168 shares of the bank’s stock after selling 25,906 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Regions Financial Corporation worth $28,772,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in RF. Eqis Capital Management Inc. increased its holdings in shares of Regions Financial Corporation by 23.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 14,269 shares of the bank’s stock worth $209,000 after acquiring an additional 2,689 shares during the period. LS Investment Advisors LLC increased its holdings in shares of Regions Financial Corporation by 3.6% in the 2nd quarter. LS Investment Advisors LLC now owns 53,518 shares of the bank’s stock worth $784,000 after acquiring an additional 1,837 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Regions Financial Corporation by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 74,600 shares of the bank’s stock worth $1,092,000 after acquiring an additional 500 shares during the period. US Bancorp DE increased its holdings in shares of Regions Financial Corporation by 35.3% in the 2nd quarter. US Bancorp DE now owns 314,506 shares of the bank’s stock worth $4,605,000 after acquiring an additional 82,040 shares during the period. Finally, BB&T Corp increased its holdings in shares of Regions Financial Corporation by 7.4% in the 2nd quarter. BB&T Corp now owns 29,066 shares of the bank’s stock worth $426,000 after acquiring an additional 2,007 shares during the period. 77.39% of the stock is currently owned by institutional investors and hedge funds.
In other Regions Financial Corporation news, EVP John B. Owen sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total value of $626,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott M. Peters sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $15.84, for a total transaction of $396,000.00. Following the completion of the transaction, the executive vice president now owns 121,459 shares of the company’s stock, valued at $1,923,910.56. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
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Regions Financial Corporation (NYSE RF) opened at $15.80 on Monday. Regions Financial Corporation has a fifty-two week low of $12.98 and a fifty-two week high of $16.03. The company has a market cap of $18,327.54, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.39.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. Regions Financial Corporation had a net margin of 20.14% and a return on equity of 7.56%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. sell-side analysts predict that Regions Financial Corporation will post 0.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, December 7th. Regions Financial Corporation’s payout ratio is 37.50%.
A number of analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Regions Financial Corporation in a report on Friday, August 11th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $14.50 price objective on shares of Regions Financial Corporation in a report on Thursday, August 17th. Wells Fargo & Company assumed coverage on shares of Regions Financial Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $16.00 target price on the stock. BidaskClub cut shares of Regions Financial Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.50 target price on shares of Regions Financial Corporation in a research note on Wednesday, August 16th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.31.
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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