Nisa Investment Advisors LLC grew its stake in shares of Regions Financial Corp (NYSE:RF) by 28.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 543,480 shares of the bank’s stock after acquiring an additional 120,324 shares during the period. Nisa Investment Advisors LLC’s holdings in Regions Financial were worth $9,973,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in RF. Millennium Management LLC lifted its stake in shares of Regions Financial by 52.7% during the 2nd quarter. Millennium Management LLC now owns 19,743,411 shares of the bank’s stock valued at $351,038,000 after buying an additional 6,813,530 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Regions Financial by 4.6% during the 2nd quarter. Bank of Montreal Can now owns 17,179,629 shares of the bank’s stock valued at $305,453,000 after buying an additional 754,073 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Regions Financial by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 12,496,685 shares of the bank’s stock valued at $222,190,000 after buying an additional 95,653 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Regions Financial by 135.1% during the 2nd quarter. Janus Henderson Group PLC now owns 7,807,580 shares of the bank’s stock valued at $138,818,000 after buying an additional 4,486,512 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Regions Financial by 1.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,047,523 shares of the bank’s stock valued at $107,525,000 after buying an additional 61,567 shares in the last quarter. 74.90% of the stock is owned by hedge funds and other institutional investors.
NYSE RF opened at $16.90 on Friday. Regions Financial Corp has a 1 year low of $15.01 and a 1 year high of $20.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 0.98 and a beta of 1.29.
Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 20th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Regions Financial had a net margin of 22.77% and a return on equity of 9.46%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts forecast that Regions Financial Corp will post 1.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, December 6th. Regions Financial’s dividend payout ratio (DPR) is currently 56.00%.
A number of analysts recently commented on the stock. Robert W. Baird upgraded shares of Regions Financial from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th. Vining Sparks reiterated a “buy” rating and issued a $22.00 target price on shares of Regions Financial in a research note on Tuesday, October 9th. B. Riley set a $20.00 target price on shares of Regions Financial and gave the stock a “hold” rating in a research note on Monday, October 15th. Finally, Wedbush set a $22.00 target price on shares of Regions Financial and gave the stock a “buy” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $18.23.
In other news, Director Susan W. Matlock sold 24,000 shares of the firm’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $18.50, for a total transaction of $444,000.00. Following the sale, the director now owns 14,914 shares in the company, valued at approximately $275,909. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP C. Keith Herron sold 23,186 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $18.76, for a total transaction of $434,969.36. Following the sale, the executive vice president now owns 204,537 shares in the company, valued at approximately $3,837,114.12. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.
Regions Financial Company 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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