UBS Group AG increased its holdings in shares of Regions Financial Corp (NYSE:RF) by 24.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,626,150 shares of the bank’s stock after acquiring an additional 319,655 shares during the quarter. UBS Group AG’s holdings in Regions Financial were worth $30,213,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Hanseatic Management Services Inc. raised its stake in Regions Financial by 3.7% during the first quarter. Hanseatic Management Services Inc. now owns 76,179 shares of the bank’s stock worth $1,415,000 after purchasing an additional 2,699 shares during the period. Pinnacle Financial Partners Inc. raised its stake in Regions Financial by 2.1% during the first quarter. Pinnacle Financial Partners Inc. now owns 139,697 shares of the bank’s stock worth $2,595,000 after purchasing an additional 2,817 shares during the period. New Mexico Educational Retirement Board raised its stake in Regions Financial by 2.9% during the fourth quarter. New Mexico Educational Retirement Board now owns 114,913 shares of the bank’s stock worth $1,986,000 after purchasing an additional 3,200 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Regions Financial by 18.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,059 shares of the bank’s stock worth $391,000 after purchasing an additional 3,278 shares during the period. Finally, Dorsey Wright & Associates raised its stake in Regions Financial by 2.2% during the first quarter. Dorsey Wright & Associates now owns 150,470 shares of the bank’s stock worth $2,796,000 after purchasing an additional 3,299 shares during the period. Hedge funds and other institutional investors own 74.98% of the company’s stock.
Shares of RF opened at $18.59 on Friday. Regions Financial Corp has a fifty-two week low of $13.02 and a fifty-two week high of $20.21. The company has a market cap of $20.88 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 0.94 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.53.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 20th. The bank reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. Regions Financial had a net margin of 22.06% and a return on equity of 8.75%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm earned $0.23 EPS. research analysts forecast that Regions Financial Corp will post 1.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, June 7th. Regions Financial’s payout ratio is currently 36.00%.
In related news, CFO David J. Turner, Jr. sold 46,374 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $19.34, for a total transaction of $896,873.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott M. Peters sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $18.94, for a total transaction of $1,325,800.00. Following the sale, the executive vice president now directly owns 50,486 shares in the company, valued at $956,204.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 518,290 shares of company stock worth $9,879,551. 0.84% of the stock is owned by insiders.
RF has been the topic of a number of analyst reports. ValuEngine raised shares of Regions Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, June 6th. B. Riley boosted their price target on shares of Regions Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, April 24th. Finally, Keefe, Bruyette & Woods reissued a “neutral” rating on shares of Regions Financial in a research note on Sunday, April 22nd. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.56.
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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