Tokio Marine Asset Management Co. Ltd. raised its position in shares of Regions Financial Corporation (NYSE:RF) by 33.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 165,532 shares of the bank’s stock after buying an additional 41,323 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Regions Financial Corporation were worth $2,521,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RF. FNY Partners Fund LP bought a new position in Regions Financial Corporation in the first quarter valued at approximately $103,000. Lloyds Banking Group plc bought a new position in shares of Regions Financial Corporation during the second quarter worth $108,000. Seven Eight Capital LP bought a new position in shares of Regions Financial Corporation during the second quarter worth $111,000. Sun Life Financial INC boosted its position in shares of Regions Financial Corporation by 98,133.3% during the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after purchasing an additional 8,832 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in shares of Regions Financial Corporation by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after purchasing an additional 26 shares in the last quarter. 75.71% of the stock is owned by institutional investors.
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In other news, EVP Scott M. Peters sold 25,000 shares of Regions Financial Corporation stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $15.84, for a total value of $396,000.00. Following the completion of the transaction, the executive vice president now owns 121,459 shares in the company, valued at $1,923,910.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of Regions Financial Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the transaction, the chief financial officer now owns 121,160 shares of the company’s stock, valued at approximately $1,811,342. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock valued at $1,520,050 in the last 90 days. 0.52% of the stock is currently owned by corporate insiders.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. Regions Financial Corporation had a net margin of 20.14% and a return on equity of 7.56%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.33%. Regions Financial Corporation’s dividend payout ratio (DPR) is presently 37.50%.
A number of brokerages have recently weighed in on RF. J P Morgan Chase & Co lifted their price target on shares of Regions Financial Corporation from $15.50 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday. Nomura reissued a “neutral” rating and set a $17.00 price target (up from $16.00) on shares of Regions Financial Corporation in a research report on Thursday, October 26th. Royal Bank Of Canada reissued a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a research report on Wednesday, October 25th. FBR & Co reissued a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a research report on Wednesday, October 25th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $16.00 price target (up from $15.00) on shares of Regions Financial Corporation in a research report on Monday, October 9th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $15.14.
About Regions Financial Corporation
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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