American Asset Management Inc. acquired a new position in Regions Financial Corp (NYSE:RF) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,480 shares of the bank’s stock, valued at approximately $261,000.
A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Regions Financial by 17.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,054,121 shares of the bank’s stock worth $367,993,000 after buying an additional 3,013,569 shares during the period. Geode Capital Management LLC grew its position in shares of Regions Financial by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 15,010,538 shares of the bank’s stock worth $200,519,000 after buying an additional 432,350 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Regions Financial by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,604,931 shares of the bank’s stock worth $195,420,000 after buying an additional 286,879 shares during the period. Norges Bank acquired a new position in shares of Regions Financial during the 4th quarter worth about $146,362,000. Finally, Bank of New York Mellon Corp grew its position in shares of Regions Financial by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 10,151,840 shares of the bank’s stock worth $135,832,000 after buying an additional 696,044 shares during the period. Hedge funds and other institutional investors own 74.36% of the company’s stock.
Several equities analysts have recently issued reports on the company. UBS Group set a $17.00 target price on Regions Financial and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Nomura upgraded Regions Financial from a “reduce” rating to a “neutral” rating and set a $14.00 target price for the company in a research report on Friday, March 29th. Sandler O’Neill upgraded Regions Financial from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. ValuEngine lowered Regions Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 21st. Finally, BMO Capital Markets initiated coverage on Regions Financial in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $17.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.28.
NYSE RF traded down $0.24 during trading on Monday, hitting $15.36. The stock had a trading volume of 278,190 shares, compared to its average volume of 13,902,062. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. Regions Financial Corp has a 12 month low of $12.39 and a 12 month high of $19.99.
Regions Financial (NYSE:RF) last released its earnings results on Friday, January 18th. The bank reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.01). The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.49 billion. Regions Financial had a net margin of 27.23% and a return on equity of 10.84%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, equities research analysts forecast that Regions Financial Corp will post 1.59 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, March 7th. Regions Financial’s payout ratio is 41.18%.
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About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
Further Reading: Market Capitalization and Individual Investors
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