Crestline Management LP trimmed its holdings in shares of Regions Financial Corporation (NYSE:RF) by 27.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,000 shares of the bank’s stock after selling 125,000 shares during the period. Regions Financial comprises 0.7% of Crestline Management LP’s investment portfolio, making the stock its 11th largest position. Crestline Management LP’s holdings in Regions Financial were worth $4,950,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. OMERS ADMINISTRATION Corp acquired a new position in shares of Regions Financial during the second quarter worth $1,259,000. Koch Industries Inc. acquired a new position in shares of Regions Financial during the second quarter worth $614,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Regions Financial by 17.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 295,359 shares of the bank’s stock worth $4,324,000 after purchasing an additional 44,909 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Regions Financial by 35.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 432,686 shares of the bank’s stock worth $6,335,000 after purchasing an additional 113,610 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Regions Financial by 4.8% during the second quarter. Synovus Financial Corp now owns 155,071 shares of the bank’s stock worth $2,272,000 after purchasing an additional 7,078 shares in the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Regions Financial Corporation (NYSE RF) traded up $0.11 during trading hours on Monday, hitting $17.08. 8,342,800 shares of the company were exchanged, compared to its average volume of 15,083,407. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $19,810.00, a price-to-earnings ratio of 17.79, a PEG ratio of 1.55 and a beta of 1.30. Regions Financial Corporation has a fifty-two week low of $13.00 and a fifty-two week high of $17.17.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a net margin of 20.14% and a return on equity of 7.56%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. analysts forecast that Regions Financial Corporation will post 0.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be paid a $0.09 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.11%. Regions Financial’s dividend payout ratio (DPR) is presently 37.89%.
In other Regions Financial news, EVP John B. Owen sold 40,000 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott M. Peters sold 25,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.84, for a total transaction of $396,000.00. Following the sale, 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. In the last 90 days, insiders sold 80,000 shares of company stock valued at $1,278,400. Insiders own 0.52% of the company’s stock.
RF has been the topic of a number of recent research reports. FBR & Co reissued 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 boosted their target price on shares of Regions Financial from $15.50 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. Goldman Sachs Group raised shares of Regions Financial from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, November 16th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.50 target price on shares of Regions Financial in a research report on Friday, September 15th. Finally, Robert W. Baird cut shares of Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 target price on the stock. in a research report on Monday, October 2nd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $15.63.
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About Regions Financial
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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