Schwab Charles Investment Management Inc. increased its position in shares of Regions Financial Corp (NYSE:RF) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 6,047,523 shares of the bank’s stock after acquiring an additional 61,567 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Regions Financial were worth $107,525,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. LSV Asset Management boosted its position in Regions Financial by 0.6% during the first quarter. LSV Asset Management now owns 28,945,370 shares of the bank’s stock worth $537,804,000 after acquiring an additional 165,276 shares during the last quarter. Bank of Montreal Can boosted its position in Regions Financial by 4.6% during the second quarter. Bank of Montreal Can now owns 17,179,629 shares of the bank’s stock worth $305,453,000 after acquiring an additional 754,073 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Regions Financial by 6.8% during the first quarter. JPMorgan Chase & Co. now owns 13,063,953 shares of the bank’s stock worth $242,727,000 after acquiring an additional 832,369 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Regions Financial by 10.0% during the first quarter. The Manufacturers Life Insurance Company now owns 6,881,981 shares of the bank’s stock worth $127,868,000 after acquiring an additional 628,453 shares during the last quarter. Finally, PointState Capital LP boosted its position in Regions Financial by 3,053.2% during the first quarter. PointState Capital LP now owns 6,489,300 shares of the bank’s stock worth $120,571,000 after acquiring an additional 6,283,500 shares during the last quarter. Hedge funds and other institutional investors own 75.82% of the company’s stock.
In other news, Director Susan W. Matlock sold 24,000 shares of the firm’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $18.50, for a total value of $444,000.00. Following the transaction, the director now owns 14,914 shares of the company’s stock, valued at approximately $275,909. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP C. Keith Herron sold 23,186 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $18.76, for a total transaction of $434,969.36. Following the completion of the transaction, the executive vice president now directly owns 204,537 shares in the company, valued at approximately $3,837,114.12. The disclosure for this sale can be found here. In the last three months, insiders sold 85,440 shares of company stock worth $1,610,256. Insiders own 0.84% of the company’s stock.
NYSE:RF opened at $19.48 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.66. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.02 and a beta of 1.28. Regions Financial Corp has a fifty-two week low of $13.02 and a fifty-two week high of $20.21.
Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 20th. The bank reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Regions Financial had a net margin of 22.77% and a return on equity of 9.46%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm posted $0.25 earnings per share. Regions Financial’s revenue was up 4.8% on a year-over-year basis. equities analysts predict that Regions Financial Corp will post 1.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, September 6th. This is an increase from Regions Financial’s previous quarterly dividend of $0.09. Regions Financial’s dividend payout ratio (DPR) is currently 36.00%.
RF has been the topic of a number of analyst reports. ValuEngine lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. B. Riley increased their price target on shares of Regions Financial from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 24th. Royal Bank of Canada raised shares of Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research note on Monday, June 18th. Finally, Robert W. Baird raised shares of Regions Financial from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.43.
Regions Financial Company Profile
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other specialty financing.
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