Sawtooth Solutions LLC lowered its position in Regions Financial Corp (NYSE:RF) by 29.7% in the first quarter, HoldingsChannel.com reports. The fund owned 11,451 shares of the bank’s stock after selling 4,827 shares during the quarter. Sawtooth Solutions LLC’s holdings in Regions Financial were worth $162,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the business. Federated Investors Inc. PA grew its stake in shares of Regions Financial by 54.8% in the 1st quarter. Federated Investors Inc. PA now owns 117,190 shares of the bank’s stock valued at $1,657,000 after buying an additional 41,484 shares during the period. Corient Capital Partners LLC grew its stake in shares of Regions Financial by 15.2% in the 1st quarter. Corient Capital Partners LLC now owns 16,305 shares of the bank’s stock valued at $231,000 after buying an additional 2,147 shares during the period. NumerixS Investment Technologies Inc grew its stake in shares of Regions Financial by 246.2% in the 1st quarter. NumerixS Investment Technologies Inc now owns 203,684 shares of the bank’s stock valued at $2,886,000 after buying an additional 144,842 shares during the period. Tredje AP fonden grew its stake in shares of Regions Financial by 37.0% in the 1st quarter. Tredje AP fonden now owns 26,901 shares of the bank’s stock valued at $384,000 after buying an additional 7,262 shares during the period. Finally, BBT Capital Management LLC purchased a new stake in shares of Regions Financial in the 1st quarter valued at approximately $180,000. Institutional investors and hedge funds own 71.55% of the company’s stock.
A number of research firms recently weighed in on RF. Wedbush increased their price objective on shares of Regions Financial from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. Sandler O’Neill cut shares of Regions Financial from a “buy” rating to a “hold” rating and set a $16.41 price target for the company. in a research report on Thursday, February 28th. FIG Partners reissued a “market-perform” rating on shares of Regions Financial in a research report on Thursday, February 21st. Barclays reissued a “sell” rating and issued a $17.00 price target on shares of Regions Financial in a research report on Thursday, February 21st. Finally, ValuEngine raised shares of Regions Financial from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.19.
Shares of RF stock opened at $14.49 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.90. Regions Financial Corp has a 52 week low of $12.39 and a 52 week high of $19.99. The company has a market capitalization of $14.43 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51.
Regions Financial (NYSE:RF) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.37. Regions Financial had a net margin of 26.38% and a return on equity of 10.76%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business earned $0.35 EPS. The company’s revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that Regions Financial Corp will post 1.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $0.14 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.86%. Regions Financial’s payout ratio is 41.18%.
In related news, EVP Scott M. Peters sold 30,877 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $15.19, for a total transaction of $469,021.63. Following the sale, the executive vice president now directly owns 50,486 shares in the company, valued at approximately $766,882.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John B. Owen sold 61,756 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $15.25, for a total transaction of $941,779.00. Following the sale, the chief operating officer now owns 127,152 shares in the company, valued at $1,939,068. The disclosure for this sale can be found here. Insiders sold a total of 123,510 shares of company stock worth $1,889,394 over the last 90 days. Company insiders own 0.28% of the company’s stock.
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Regions Financial Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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