Pitcairn Co. boosted its holdings in Regions Financial Co. (NYSE:RF – Free Report) by 9.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,556 shares of the bank’s stock after acquiring an additional 1,382 shares during the quarter. Pitcairn Co.’s holdings in Regions Financial were worth $348,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Regions Financial in the fourth quarter valued at about $210,379,000. Cincinnati Insurance Co. acquired a new position in Regions Financial in the first quarter valued at approximately $74,606,000. Vanguard Group Inc. increased its stake in Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP increased its stake in Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Regions Financial in the first quarter valued at approximately $33,829,000. Institutional investors own 79.39% of the company’s stock.
Insider Transactions at Regions Financial
In other news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Read Our Latest Analysis on Regions Financial
Regions Financial Stock Performance
RF stock traded up $0.44 during trading hours on Thursday, reaching $22.55. The stock had a trading volume of 7,899,249 shares, compared to its average volume of 8,243,253. The stock has a market capitalization of $20.65 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 2.40 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50-day simple moving average of $19.73 and a 200 day simple moving average of $19.38. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.85.
Regions Financial (NYSE:RF – Get Free Report) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Analysts predict that Regions Financial Co. will post 1.99 EPS for the current fiscal year.
Regions Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.
Regions Financial Company Profile
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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