IndexIQ Advisors LLC Acquires 136,990 Shares of Regions Financial Corp (RF)
IndexIQ Advisors LLC increased its holdings in shares of Regions Financial Corp (NYSE:RF) by 57.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,049 shares of the bank’s stock after buying an additional 136,990 shares during the period. IndexIQ Advisors LLC’s holdings in Regions Financial were worth $5,045,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of RF. Legacy Financial Advisors Inc. bought a new stake in shares of Regions Financial during the fourth quarter worth approximately $30,000. Financial Architects Inc bought a new stake in shares of Regions Financial during the fourth quarter worth approximately $31,000. Focused Wealth Management Inc raised its stake in shares of Regions Financial by 528.6% during the fourth quarter. Focused Wealth Management Inc now owns 4,400 shares of the bank’s stock worth $59,000 after buying an additional 3,700 shares during the last quarter. First Bank & Trust raised its stake in shares of Regions Financial by 11.0% during the fourth quarter. First Bank & Trust now owns 6,816 shares of the bank’s stock worth $91,000 after buying an additional 676 shares during the last quarter. Finally, Atlas Capital Advisors LLC raised its stake in shares of Regions Financial by 152.7% during the fourth quarter. Atlas Capital Advisors LLC now owns 7,304 shares of the bank’s stock worth $98,000 after buying an additional 4,414 shares during the last quarter. 76.19% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:RF opened at $15.44 on Friday. Regions Financial Corp has a 52 week low of $12.39 and a 52 week high of $20.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $16.04 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.84 and a beta of 1.48.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.63%. The ex-dividend date is Thursday, March 7th. Regions Financial’s payout ratio is presently 41.18%.
A number of research firms recently weighed in on RF. Wedbush downgraded shares of Regions Financial from an “outperform” rating to a “neutral” rating and set a $17.00 price target for the company. in a research note on Monday, February 4th. They noted that the move was a valuation call. B. Riley set a $20.00 price target on shares of Regions Financial and gave the stock a “hold” rating in a research note on Monday, October 15th. Nomura reissued a “reduce” rating and set a $14.90 price target (down from $17.00) on shares of Regions Financial in a research note on Monday, December 10th. JPMorgan Chase & Co. raised shares of Regions Financial from a “neutral” rating to an “overweight” rating and set a $16.20 price target for the company in a research note on Sunday, December 2nd. Finally, Raymond James dropped their price target on shares of Regions Financial from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $17.46.
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Regions Financial Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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