Avestar Capital LLC bought a new stake in Regions Financial Corp (NYSE:RF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,597 shares of the bank’s stock, valued at approximately $135,000.
Several other institutional investors and hedge funds have also recently modified their holdings of RF. Sirios Capital Management L P bought a new stake in shares of Regions Financial in the fourth quarter valued at $23,365,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Regions Financial in the fourth quarter valued at $19,735,000. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Regions Financial by 152.5% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,004,855 shares of the bank’s stock valued at $15,304,000 after purchasing an additional 606,894 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Regions Financial by 23.7% in the fourth quarter. Retirement Systems of Alabama now owns 2,773,436 shares of the bank’s stock valued at $47,925,000 after purchasing an additional 531,135 shares in the last quarter. Finally, Madison Investment Holdings Inc. purchased a new position in shares of Regions Financial in the fourth quarter valued at $8,395,000. Hedge funds and other institutional investors own 76.33% of the company’s stock.
In other news, EVP Scott M. Peters sold 25,627 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $19.50, for a total value of $499,726.50. Following the completion of the transaction, the executive vice president now directly owns 240,796 shares in the company, valued at approximately $4,695,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald G. Smith sold 92,301 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $19.32, for a total value of $1,783,255.32. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 19th. The bank reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Regions Financial had a return on equity of 7.87% and a net margin of 20.48%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. equities research analysts predict that Regions Financial Corp will post 1.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, March 8th. Regions Financial’s payout ratio is currently 37.89%.
Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Regions Financial from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. B. Riley reiterated a “hold” rating and issued a $19.00 price target on shares of Regions Financial in a research report on Monday, January 22nd. SunTrust Banks reiterated a “buy” rating and issued a $19.00 price target on shares of Regions Financial in a research report on Wednesday, November 29th. ValuEngine cut Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $17.00 price target on shares of Regions Financial in a research report on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $17.24.
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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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