Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Regions Financial Corp (NYSE:RF) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,391,464 shares of the bank’s stock after selling 746,300 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Regions Financial were worth $48,833,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Citizens Financial Group Inc RI boosted its holdings in shares of Regions Financial by 203.1% in the first quarter. Citizens Financial Group Inc RI now owns 3,528 shares of the bank’s stock valued at $32,000 after acquiring an additional 2,364 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Regions Financial in the first quarter valued at about $47,000. Ellevest Inc. boosted its holdings in shares of Regions Financial by 332.0% in the second quarter. Ellevest Inc. now owns 5,586 shares of the bank’s stock valued at $62,000 after acquiring an additional 4,293 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Regions Financial by 31.5% in the first quarter. Valeo Financial Advisors LLC now owns 7,366 shares of the bank’s stock valued at $76,000 after acquiring an additional 1,766 shares in the last quarter. Finally, Allred Capital Management LLC boosted its holdings in shares of Regions Financial by 245.3% in the first quarter. Allred Capital Management LLC now owns 7,593 shares of the bank’s stock valued at $68,000 after acquiring an additional 5,394 shares in the last quarter. Institutional investors own 73.03% of the company’s stock.
In other news, Director Jose S. Suquet acquired 10,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $9.88 per share, with a total value of $98,800.00. Following the completion of the transaction, the director now directly owns 41,527 shares in the company, valued at approximately $410,286.76. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jose S. Suquet acquired 5,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $10.21 per share, with a total value of $51,050.00. Following the transaction, the director now owns 41,527 shares of the company’s stock, valued at $423,990.67. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.
Shares of RF opened at $10.86 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The stock has a market cap of $10.42 billion, a P/E ratio of 16.45, a PEG ratio of 3.46 and a beta of 1.69. The company has a 50-day moving average of $11.02 and a two-hundred day moving average of $11.92. Regions Financial Corp has a 12-month low of $6.94 and a 12-month high of $17.54.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 17th. The bank reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.32). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a return on equity of 5.10% and a net margin of 11.32%. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, analysts forecast that Regions Financial Corp will post 0.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date is Thursday, September 3rd. Regions Financial’s dividend payout ratio is presently 40.00%.
Several brokerages have recently weighed in on RF. UBS Group lifted their target price on shares of Regions Financial from $11.00 to $12.50 and gave the company a “buy” rating in a report on Monday, May 4th. Jefferies Financial Group reissued a “buy” rating and set a $11.00 price objective on shares of Regions Financial in a report on Thursday, May 21st. Wolfe Research started coverage on shares of Regions Financial in a report on Friday. They set an “outperform” rating on the stock. Raymond James decreased their price objective on shares of Regions Financial from $15.00 to $14.00 and set a “strong-buy” rating on the stock in a report on Monday, July 20th. Finally, ValuEngine raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $13.34.
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.
See Also: Net Income
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