Signition LP Purchases 25,779 Shares of Regions Financial Corp (RF)
Signition LP increased its stake in shares of Regions Financial Corp (NYSE:RF) by 219.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,541 shares of the bank’s stock after acquiring an additional 25,779 shares during the quarter. Signition LP’s holdings in Regions Financial were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of RF. PointState Capital LP grew its position in Regions Financial by 3,053.2% during the 1st quarter. PointState Capital LP now owns 6,489,300 shares of the bank’s stock worth $120,571,000 after acquiring an additional 6,283,500 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Regions Financial by 54.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,632,585 shares of the bank’s stock worth $86,075,000 after acquiring an additional 1,633,450 shares during the last quarter. Cookson Peirce & Co. Inc. bought a new position in Regions Financial during the 1st quarter worth approximately $24,012,000. Principal Financial Group Inc. grew its position in Regions Financial by 61.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,097,100 shares of the bank’s stock worth $57,544,000 after acquiring an additional 1,183,688 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Regions Financial during the 1st quarter worth approximately $17,938,000. Institutional investors and hedge funds own 75.11% of the company’s stock.
In other Regions Financial news, Director Susan W. Matlock sold 24,000 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $18.50, for a total value of $444,000.00. Following the completion of the sale, the director now owns 14,914 shares in the company, valued at approximately $275,909. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Barbara Godin sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $19.15, for a total value of $383,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,440 shares of company stock valued at $1,802,556. Company insiders own 0.84% of the company’s stock.
Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 20th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business posted $0.25 EPS. The business’s revenue was up 4.8% on a year-over-year basis. research analysts expect that Regions Financial Corp will post 1.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be issued a $0.14 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.56 annualized dividend and a yield of 2.93%. This is a boost from Regions Financial’s previous quarterly dividend of $0.09. Regions Financial’s dividend payout ratio (DPR) is 36.00%.
Several equities analysts recently issued reports on the company. Robert W. Baird upgraded Regions Financial from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. ValuEngine lowered Regions Financial from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. Royal Bank of Canada upgraded Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research report on Monday, June 18th. Keefe, Bruyette & Woods restated a “neutral” rating on shares of Regions Financial in a research report on Sunday, April 22nd. Finally, B. Riley raised their price target on Regions Financial from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial presently has a consensus rating of “Hold” and an average price target of $17.33.
Regions Financial Company Profile
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other specialty financing.
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