Vectors Research Management LLC acquired a new position in shares of Regions Financial Corp (NYSE:RF) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 25,000 shares of the bank’s stock, valued at approximately $447,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RF. Victory Capital Management Inc. lifted its position in shares of Regions Financial by 422.5% during the second quarter. Victory Capital Management Inc. now owns 856,548 shares of the bank’s stock worth $15,229,000 after purchasing an additional 692,611 shares in the last quarter. Soros Fund Management LLC lifted its position in shares of Regions Financial by 31.3% during the second quarter. Soros Fund Management LLC now owns 651,839 shares of the bank’s stock worth $11,590,000 after purchasing an additional 155,218 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Regions Financial by 0.8% during the second quarter. Bank of America Corp DE now owns 12,496,685 shares of the bank’s stock worth $222,190,000 after purchasing an additional 95,653 shares in the last quarter. Dorsey Wright & Associates lifted its position in shares of Regions Financial by 3.5% during the third quarter. Dorsey Wright & Associates now owns 169,688 shares of the bank’s stock worth $3,114,000 after purchasing an additional 5,732 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Regions Financial during the second quarter worth $612,000. Institutional investors own 76.93% of the company’s stock.
RF has been the topic of a number of recent research reports. Wedbush set a $22.00 target price on shares of Regions Financial and gave the stock a “buy” rating in a research report on Friday, September 7th. Nomura reissued a “reduce” rating and set a $14.90 target price (down from $17.00) on shares of Regions Financial in a research report on Monday, December 10th. Raymond James reduced their target price on shares of Regions Financial from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. ValuEngine cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Finally, Argus initiated coverage on shares of Regions Financial in a research report on Wednesday, November 28th. They set a “buy” rating and a $19.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.43.
Regions Financial (NYSE:RF) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Regions Financial had a net margin of 26.39% and a return on equity of 10.15%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, equities research analysts anticipate that Regions Financial Corp will post 1.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.56 annualized dividend and a yield of 4.16%. Regions Financial’s dividend payout ratio is presently 56.00%.
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Regions Financial Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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