Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Regions Financial Corporation (NYSE:RF) by 8.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,192 shares of the bank’s stock after buying an additional 7,886 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Regions Financial were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of Regions Financial during the 2nd quarter worth approximately $1,259,000. Koch Industries Inc. acquired a new stake in shares of Regions Financial during the 2nd quarter worth approximately $614,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Regions Financial by 17.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 295,359 shares of the bank’s stock worth $4,324,000 after buying an additional 44,909 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Regions Financial by 35.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 432,686 shares of the bank’s stock worth $6,335,000 after buying an additional 113,610 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Regions Financial by 4.8% during the 2nd quarter. Synovus Financial Corp now owns 155,071 shares of the bank’s stock worth $2,272,000 after buying an additional 7,078 shares during the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.
RF has been the subject of several research reports. FBR & Co reiterated a “hold” rating and issued a $16.00 target price on shares of Regions Financial in a report on Wednesday, October 25th. J P Morgan Chase & Co lifted their target price on shares of Regions Financial from $15.50 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Goldman Sachs Group upgraded shares of Regions Financial from a “buy” rating to a “conviction-buy” rating in a report on Thursday, November 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 target price on shares of Regions Financial in a report on Friday, September 15th. Finally, Robert W. Baird downgraded shares of Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 target price for the company. in a report on Monday, October 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.60.
Shares of Regions Financial Corporation (NYSE RF) traded up $0.06 during mid-day trading on Monday, reaching $16.65. 16,312,500 shares of the company’s stock traded hands, compared to its average volume of 15,170,751. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.85 and a quick ratio of 0.84. Regions Financial Corporation has a 52 week low of $13.00 and a 52 week high of $16.94. The stock has a market cap of $19,313.52, a PE ratio of 17.34, a PEG ratio of 1.51 and a beta of 1.30.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Regions Financial had a net margin of 20.14% and a return on equity of 7.56%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the company posted $0.24 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. sell-side analysts predict that Regions Financial Corporation will post 0.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.36 annualized dividend and a yield of 2.16%. Regions Financial’s dividend payout ratio is presently 37.50%.
Regions Financial Company Profile
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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