Nippon Life Insurance Co. acquired a new position in Regions Financial Co. (NYSE:RF) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,643 shares of the bank’s stock, valued at approximately $771,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. OppenheimerFunds Inc. boosted its holdings in Regions Financial by 18.5% in the 1st quarter. OppenheimerFunds Inc. now owns 57,510 shares of the bank’s stock worth $836,000 after buying an additional 8,970 shares during the period. Wellington Management Group LLP boosted its holdings in Regions Financial by 667.7% in the 1st quarter. Wellington Management Group LLP now owns 896,549 shares of the bank’s stock worth $13,028,000 after buying an additional 779,760 shares during the period. Teachers Advisors LLC boosted its holdings in Regions Financial by 11.6% in the 1st quarter. Teachers Advisors LLC now owns 6,545,258 shares of the bank’s stock worth $95,103,000 after buying an additional 681,822 shares during the period. Ngam Advisors L.P. boosted its holdings in shares of Regions Financial by 19.7% during the 1st quarter. Ngam Advisors L.P. now owns 39,135 shares of the bank’s stock valued at $569,000 after purchasing an additional 6,451 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of Regions Financial by 2.7% during the 1st quarter. Thrivent Financial For Lutherans now owns 44,227 shares of the bank’s stock valued at $643,000 after purchasing an additional 1,170 shares during the last quarter. Institutional investors own 77.72% of the company’s stock.
In other Regions Financial news, EVP John B. Owen sold 40,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total transaction of $626,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott M. Peters sold 25,000 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total transaction of $396,000.00. Following the transaction, the executive vice president now owns 121,459 shares of the company’s stock, valued at approximately $1,923,910.56. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.
Regions Financial Co. (NYSE:RF) traded down $0.11 during trading on Friday, hitting $15.17. 11,869,800 shares of the stock were exchanged, compared to its average volume of 15,297,376. Regions Financial Co. has a twelve month low of $12.00 and a twelve month high of $16.03. The stock has a market cap of $17,724.36, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.38 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 (NYSE:RF) last announced its earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. Regions Financial had a net margin of 21.80% and a return on equity of 7.45%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. equities research analysts forecast that Regions Financial Co. will post 0.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders 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 2.37%. The ex-dividend date of this dividend is Thursday, December 7th. Regions Financial’s payout ratio is 37.50%.
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Several analysts have recently issued reports on RF shares. FBR & Co restated a “hold” rating and set a $16.00 target price on shares of Regions Financial in a research report on Wednesday, October 25th. J P Morgan Chase & Co upped their target price on shares of Regions Financial from $15.50 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.50 price objective on shares of Regions Financial in a research report on Friday, September 15th. Bank of America Corporation reaffirmed a “buy” rating and set a $17.00 target price on shares of Regions Financial in a research report on Wednesday, July 26th. Finally, BidaskClub lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.31.
Regions Financial 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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