Royal Bank of Canada Sells 2,276,441 Shares of Regions Financial Corporation (RF)

Royal Bank of Canada lowered its holdings in Regions Financial Corporation (NYSE:RF) by 72.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 863,899 shares of the bank’s stock after selling 2,276,441 shares during the period. Royal Bank of Canada owned approximately 0.07% of Regions Financial Corporation worth $12,646,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new stake in Regions Financial Corporation during the 1st quarter valued at $103,000. Lloyds Banking Group plc acquired a new stake in Regions Financial Corporation during the 2nd quarter valued at $108,000. Seven Eight Capital LP acquired a new stake in Regions Financial Corporation during the 2nd quarter valued at $111,000. Sun Life Financial INC grew its holdings in Regions Financial Corporation by 98,133.3% during the 2nd quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after purchasing an additional 8,832 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in Regions Financial Corporation by 0.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after purchasing an additional 26 shares in the last quarter. 75.53% of the stock is owned by institutional investors.

RF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.50 price target on shares of Regions Financial Corporation in a report on Friday, September 15th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a report on Friday, June 23rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Citigroup Inc. reaffirmed a “neutral” rating and set a $16.00 price target (up from $15.00) on shares of Regions Financial Corporation in a report on Monday, October 9th. Finally, BidaskClub lowered shares of Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.95.

In other news, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the sale, the chief financial officer now 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 the SEC website. Also, EVP Fournier J. Gale III sold 35,825 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the sale, the executive vice president now owns 109,318 shares in the company, valued at approximately $1,594,949.62. The disclosure for this sale can be found here. Insiders sold a total of 124,514 shares of company stock worth $1,846,733 in the last three months. Insiders own 0.52% of the company’s stock.

Regions Financial Corporation (NYSE:RF) opened at 14.83 on Friday. The company has a market capitalization of $17.72 billion, a P/E ratio of 15.50 and a beta of 1.34. The stock has a 50 day moving average of $14.41 and a 200-day moving average of $14.30. Regions Financial Corporation has a 52-week low of $9.87 and a 52-week high of $16.03.

Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates 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 for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, equities analysts forecast that Regions Financial Corporation will post $1.00 earnings per share for the current year.

Regions Financial Corporation announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization permits the bank to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, September 7th. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is 37.89%.

TRADEMARK VIOLATION NOTICE: This story was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://ledgergazette.com/2017/10/15/royal-bank-of-canada-sells-2276441-shares-of-regions-financial-corporation-rf.html.

Regions Financial Corporation 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 cred

Other institutional investors have also added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new stake in Regions Financial Corporation during the 1st quarter valued at $103,000. Lloyds Banking Group plc acquired a new stake in Regions Financial Corporation during the 2nd quarter valued at $108,000. Seven Eight Capital LP acquired a new stake in Regions Financial Corporation during the 2nd quarter valued at $111,000. Sun Life Financial INC grew its holdings in Regions Financial Corporation by 98,133.3% during the 2nd quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after purchasing an additional 8,832 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in Regions Financial Corporation by 0.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after purchasing an additional 26 shares in the last quarter. 75.53% of the stock is owned by institutional investors.

RF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.50 price target on shares of Regions Financial Corporation in a report on Friday, September 15th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a report on Friday, June 23rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Citigroup Inc. reaffirmed a “neutral” rating and set a $16.00 price target (up from $15.00) on shares of Regions Financial Corporation in a report on Monday, October 9th. Finally, BidaskClub lowered shares of Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.95.

In other news, CFO David J. Turner, Jr. sold 65,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the sale, the chief financial officer now 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 the SEC website. Also, EVP Fournier J. Gale III sold 35,825 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the completion of the sale, the executive vice president now owns 109,318 shares in the company, valued at approximately $1,594,949.62. The disclosure for this sale can be found here. Insiders sold a total of 124,514 shares of company stock worth $1,846,733 in the last three months. Insiders own 0.52% of the company’s stock.

Regions Financial Corporation (NYSE:RF) opened at 14.83 on Friday. The company has a market capitalization of $17.72 billion, a P/E ratio of 15.50 and a beta of 1.34. The stock has a 50 day moving average of $14.41 and a 200-day moving average of $14.30. Regions Financial Corporation has a 52-week low of $9.87 and a 52-week high of $16.03.

Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates 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 for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, equities analysts forecast that Regions Financial Corporation will post $1.00 earnings per share for the current year.

Regions Financial Corporation announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization permits the bank to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, September 7th. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is 37.89%.

TRADEMARK VIOLATION NOTICE: This story was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://ledgergazette.com/2017/10/15/royal-bank-of-canada-sells-2276441-shares-of-regions-financial-corporation-rf.html.

Regions Financial Corporation 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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Institutional Ownership by Quarter for Regions Financial Corporation (NYSE:RF)

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