Hotchkis & Wiley Capital Management LLC trimmed its position in shares of Regions Financial Corporation (NYSE:RF) by 20.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,947,667 shares of the bank’s stock after selling 1,254,200 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.41% of Regions Financial Corporation worth $72,434,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Regions Financial Corporation by 3,130.8% during the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock worth $1,343,545,000 after acquiring an additional 89,604,919 shares in the last quarter. Boston Partners lifted its position in shares of Regions Financial Corporation by 506.1% during the second quarter. Boston Partners now owns 32,501,037 shares of the bank’s stock worth $475,815,000 after acquiring an additional 27,138,273 shares in the last quarter. Janus Capital Management LLC lifted its position in shares of Regions Financial Corporation by 733.1% during the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock worth $146,296,000 after acquiring an additional 8,859,912 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Regions Financial Corporation during the first quarter worth $56,133,000. Finally, Morgan Stanley lifted its position in shares of Regions Financial Corporation by 59.4% during the first quarter. Morgan Stanley now owns 9,543,145 shares of the bank’s stock worth $138,661,000 after acquiring an additional 3,554,504 shares in the last quarter. 75.61% of the stock is owned by institutional investors and hedge funds.
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Several equities research analysts have issued reports on RF shares. Bank of America Corporation restated a “buy” rating and set a $17.00 target price on shares of Regions Financial Corporation in a research report on Wednesday, July 26th. BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and set a $15.00 target price on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 target price on Regions Financial Corporation and gave the stock a “hold” rating in a research report on Tuesday, June 20th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Regions Financial Corporation has an average rating of “Hold” and an average price target of $14.89.
Shares of Regions Financial Corporation (RF) traded up 0.44% on Friday, hitting $13.75. The stock had a trading volume of 13,642,196 shares. Regions Financial Corporation has a 12 month low of $9.45 and a 12 month high of $16.03. The company has a 50 day moving average price of $14.20 and a 200-day moving average price of $14.31. The stock has a market cap of $16.43 billion, a PE ratio of 14.37 and a beta of 1.33.
Regions Financial Corporation (NYSE:RF) last announced its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. On average, equities research analysts anticipate that Regions Financial Corporation will post $1.00 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.62%. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio is currently 37.89%.
Regions Financial Corporation declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $1.47 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the sale, the chief financial officer now directly owns 121,160 shares in the company, valued at approximately $1,811,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott M. Peters sold 13,689 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total transaction of $199,996.29. Following the sale, the executive vice president now owns 147,528 shares in the company, valued at $2,155,384.08. The disclosure for this sale can be found here. Insiders have sold a total of 124,514 shares of company stock worth $1,846,733 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.
Regions Financial Corporation 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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