Sciencast Management LP increased its stake in Regions Financial Corp (NYSE:RF) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,394 shares of the bank’s stock after acquiring an additional 47,206 shares during the period. Sciencast Management LP’s holdings in Regions Financial were worth $1,563,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its holdings in Regions Financial by 3,639.1% during the second quarter. Nuveen Asset Management LLC now owns 6,056,945 shares of the bank’s stock worth $90,490,000 after buying an additional 5,894,957 shares in the last quarter. Invesco Ltd. boosted its holdings in Regions Financial by 68.9% during the second quarter. Invesco Ltd. now owns 10,444,676 shares of the bank’s stock worth $156,043,000 after buying an additional 4,259,901 shares in the last quarter. Hexavest Inc. bought a new stake in Regions Financial during the fourth quarter worth approximately $39,768,000. Bank of America Corp DE boosted its holdings in Regions Financial by 20.6% during the second quarter. Bank of America Corp DE now owns 12,704,955 shares of the bank’s stock worth $189,812,000 after buying an additional 2,172,240 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $22,677,000. Institutional investors and hedge funds own 71.15% of the company’s stock.
In other news, insider Hardie B. Kimbrough, Jr. sold 18,409 shares of Regions Financial stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $16.27, for a total transaction of $299,514.43. Following the completion of the sale, the insider now owns 20,009 shares in the company, valued at approximately $325,546.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David R. Keenan sold 30,658 shares of Regions Financial stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $16.73, for a total transaction of $512,908.34. Following the sale, the executive vice president now owns 133,675 shares of the company’s stock, valued at approximately $2,236,382.75. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
Shares of RF stock opened at $16.45 on Thursday. Regions Financial Corp has a 12-month low of $13.38 and a 12-month high of $17.54. The company has a market capitalization of $15.91 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.49 and a beta of 1.57. The firm has a 50-day moving average price of $16.90 and a 200 day moving average price of $15.85. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.
Regions Financial (NYSE:RF) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. Regions Financial had a net margin of 23.78% and a return on equity of 10.88%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts expect that Regions Financial Corp will post 1.53 earnings per share for the current year.
RF has been the subject of several research analyst reports. ValuEngine downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 7th. UBS Group upped their price target on shares of Regions Financial from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Jefferies Financial Group upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $16.00 to $18.00 in a research report on Tuesday, October 8th. Goldman Sachs Group upped their price target on shares of Regions Financial from $18.50 to $19.50 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Citigroup upgraded shares of Regions Financial from a “sell” rating to a “neutral” rating and upped their price target for the company from $14.00 to $17.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.24.
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.
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