Lake Street Advisors Group LLC acquired a new stake in Regions Financial Corp (NYSE:RF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,925 shares of the bank’s stock, valued at approximately $344,000.
Several other hedge funds have also made changes to their positions in the stock. MetLife Investment Advisors LLC acquired a new position in shares of Regions Financial in the fourth quarter valued at approximately $6,202,000. Municipal Employees Retirement System of Michigan grew its holdings in shares of Regions Financial by 10.7% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 60,030 shares of the bank’s stock valued at $1,037,000 after purchasing an additional 5,800 shares in the last quarter. Zeke Capital Advisors LLC grew its holdings in shares of Regions Financial by 36.5% in the fourth quarter. Zeke Capital Advisors LLC now owns 31,502 shares of the bank’s stock valued at $544,000 after purchasing an additional 8,432 shares in the last quarter. LPL Financial LLC grew its holdings in Regions Financial by 49.6% during the 4th quarter. LPL Financial LLC now owns 136,404 shares of the bank’s stock worth $2,357,000 after acquiring an additional 45,238 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Regions Financial by 24.6% during the 4th quarter. Millennium Management LLC now owns 16,658,150 shares of the bank’s stock worth $287,853,000 after acquiring an additional 3,287,621 shares in the last quarter. Hedge funds and other institutional investors own 76.28% of the company’s stock.
In related news, EVP Scott M. Peters sold 25,627 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total value of $499,726.50. Following the completion of the sale, the executive vice president now owns 240,796 shares in the company, valued at approximately $4,695,522. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ronald G. Smith sold 92,301 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $19.32, for a total transaction of $1,783,255.32. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.
Several research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Regions Financial from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Robert W. Baird reiterated a “sell” rating and set a $17.00 price target on shares of Regions Financial in a report on Wednesday, January 3rd. Sandler O’Neill upgraded shares of Regions Financial from a “hold” rating to a “buy” rating in a report on Monday, January 22nd. Royal Bank of Canada reiterated a “hold” rating and set a $18.00 price target on shares of Regions Financial in a report on Sunday, January 21st. Finally, B. Riley reiterated a “hold” rating and set a $19.00 price target on shares of Regions Financial in a report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.24.
Shares of Regions Financial stock opened at $19.53 on Thursday. The firm has a market cap of $21,845.11, a P/E ratio of 19.46, a PEG ratio of 1.45 and a beta of 1.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Regions Financial Corp has a 12-month low of $13.00 and a 12-month high of $20.21.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 20.48% and a return on equity of 7.87%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. research analysts expect that Regions Financial Corp will post 1.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be given a $0.09 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.36 annualized dividend and a yield of 1.84%. Regions Financial’s dividend payout ratio (DPR) is 36.00%.
About Regions Financial
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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