Voloridge Investment Management LLC lifted its holdings in shares of Regions Financial Co. (NYSE:RF) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,467 shares of the bank’s stock after acquiring an additional 2,080 shares during the period. Voloridge Investment Management LLC’s holdings in Regions Financial were worth $1,668,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BBVA USA Bancshares Inc. increased its position in Regions Financial by 2.8% during the fourth quarter. BBVA USA Bancshares Inc. now owns 22,099 shares of the bank’s stock worth $356,000 after buying an additional 599 shares during the period. Valeo Financial Advisors LLC increased its position in Regions Financial by 39.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,520 shares of the bank’s stock worth $41,000 after buying an additional 711 shares during the period. BKD Wealth Advisors LLC increased its position in Regions Financial by 2.3% during the fourth quarter. BKD Wealth Advisors LLC now owns 32,191 shares of the bank’s stock worth $519,000 after buying an additional 720 shares during the period. Resonant Capital Advisors LLC grew its stake in shares of Regions Financial by 4.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 16,211 shares of the bank’s stock valued at $264,000 after purchasing an additional 736 shares during the last quarter. Finally, Lbmc Investment Advisors LLC grew its stake in shares of Regions Financial by 3.4% in the 4th quarter. Lbmc Investment Advisors LLC now owns 24,590 shares of the bank’s stock valued at $396,000 after purchasing an additional 809 shares during the last quarter. 71.67% of the stock is currently owned by institutional investors.
In related news, EVP Ronald G. Smith sold 56,147 shares of the company’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $20.23, for a total value of $1,135,853.81. Following the completion of the transaction, the executive vice president now directly owns 219,667 shares in the company, valued at $4,443,863.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John B. Owen sold 75,000 shares of the company’s stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $17.73, for a total value of $1,329,750.00. Following the completion of the transaction, the chief operating officer now owns 70,187 shares of the company’s stock, valued at $1,244,415.51. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
Regions Financial (NYSE:RF) last released its earnings results on Friday, January 22nd. The bank reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.20. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.55 billion. Regions Financial had a return on equity of 5.61% and a net margin of 13.17%. As a group, analysts anticipate that Regions Financial Co. will post 0.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Friday, March 5th were paid a $0.155 dividend. The ex-dividend date was Thursday, March 4th. This represents a $0.62 annualized dividend and a yield of 2.94%. Regions Financial’s payout ratio is currently 40.00%.
RF has been the topic of several analyst reports. Raymond James downgraded Regions Financial from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $21.00 to $23.00 in a research note on Wednesday. Robert W. Baird downgraded Regions Financial from an “outperform” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Thursday, January 7th. Morgan Stanley lifted their target price on Regions Financial from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, March 8th. Wedbush downgraded Regions Financial from an “outperform” rating to a “neutral” rating in a research note on Wednesday, January 6th. Finally, Barclays lifted their target price on Regions Financial from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.75.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. 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; 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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