Suffolk Capital Management LLC Increases Position in Regions Financial Corp (RF)

Suffolk Capital Management LLC boosted its holdings in shares of Regions Financial Corp (NYSE:RF) by 42.0% in the 4th quarter, HoldingsChannel reports. The fund owned 17,227 shares of the bank’s stock after acquiring an additional 5,092 shares during the quarter. Suffolk Capital Management LLC’s holdings in Regions Financial were worth $298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinebridge Investments L.P. grew its stake in shares of Regions Financial by 5.7% in the 3rd quarter. Pinebridge Investments L.P. now owns 758,442 shares of the bank’s stock valued at $11,551,000 after buying an additional 40,919 shares during the period. Cipher Capital LP purchased a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $1,160,000. Canada Pension Plan Investment Board grew its stake in shares of Regions Financial by 2.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,084,630 shares of the bank’s stock valued at $31,749,000 after buying an additional 59,100 shares during the period. Westbourne Investment Advisors Inc. grew its stake in shares of Regions Financial by 103.9% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 75,190 shares of the bank’s stock valued at $1,145,000 after buying an additional 38,315 shares during the period. Finally, First Republic Investment Management Inc. grew its stake in shares of Regions Financial by 4.8% in the 3rd quarter. First Republic Investment Management Inc. now owns 363,964 shares of the bank’s stock valued at $5,544,000 after buying an additional 16,525 shares during the period. 76.77% of the stock is owned by institutional investors.

In other news, EVP Scott M. Peters sold 25,627 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total value of $499,726.50. Following the sale, the executive vice president now directly owns 240,796 shares in the company, valued at approximately $4,695,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $17.04, for a total transaction of $255,600.00. Following the completion of the sale, the director now owns 59,436 shares in the company, valued at $1,012,789.44. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on RF shares. FBR & Co reissued a “hold” rating and issued a $16.00 price target on shares of Regions Financial in a research note on Wednesday, October 25th. Royal Bank of Canada reissued a “hold” rating and issued a $16.00 price target on shares of Regions Financial in a research note on Wednesday, October 25th. Nomura reissued a “neutral” rating and issued a $17.00 price target (up previously from $16.00) on shares of Regions Financial in a research note on Thursday, October 26th. JPMorgan Chase & Co. increased their price target on shares of Regions Financial from $15.50 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, November 1st. Finally, Goldman Sachs Group raised shares of Regions Financial from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, November 16th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.24.

Shares of Regions Financial Corp (NYSE:RF) opened at $19.45 on Friday. The stock has a market cap of $22,056.30, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.32. Regions Financial Corp has a fifty-two week low of $13.00 and a fifty-two week high of $19.90. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a net margin of 20.48% and a return on equity of 7.87%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. equities analysts predict that Regions Financial Corp will post 1.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.85%. Regions Financial’s dividend payout ratio (DPR) is presently 36.00%.

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Regions Financial 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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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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