Qube Research & Technologies Ltd Acquires New Position in Regions Financial Corp (NYSE:RF)

Qube Research & Technologies Ltd acquired a new stake in shares of Regions Financial Corp (NYSE:RF) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 36,936 shares of the bank’s stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hillsdale Investment Management Inc. lifted its stake in Regions Financial by 2.7% in the second quarter. Hillsdale Investment Management Inc. now owns 33,700 shares of the bank’s stock valued at $503,000 after acquiring an additional 900 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Regions Financial by 0.6% in the second quarter. GHP Investment Advisors Inc. now owns 181,350 shares of the bank’s stock worth $2,709,000 after buying an additional 1,164 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Regions Financial by 1.1% in the second quarter. Pzena Investment Management LLC now owns 4,854,247 shares of the bank’s stock worth $72,522,000 after buying an additional 51,718 shares during the last quarter. Comerica Bank lifted its stake in shares of Regions Financial by 38.6% in the second quarter. Comerica Bank now owns 263,441 shares of the bank’s stock worth $3,875,000 after buying an additional 73,355 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Regions Financial by 129.3% in the second quarter. Envestnet Asset Management Inc. now owns 747,048 shares of the bank’s stock worth $11,161,000 after buying an additional 421,309 shares during the last quarter. Hedge funds and other institutional investors own 71.32% of the company’s stock.

A number of analysts have recently weighed in on the stock. Morgan Stanley set a $16.00 price objective on shares of Regions Financial and gave the stock a “hold” rating in a research note on Friday, August 9th. Macquarie cut shares of Regions Financial from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 23rd. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $15.00 to $17.00 in a research note on Monday, July 22nd. Raymond James reduced their price objective on shares of Regions Financial from $19.50 to $18.00 and set a “strong-buy” rating for the company in a research note on Monday, April 22nd. Finally, Bank of America cut shares of Regions Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $16.00 in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Regions Financial presently has a consensus rating of “Hold” and an average target price of $17.33.

In related news, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $14.68, for a total transaction of $104,932.64. Following the completion of the transaction, the insider now directly owns 34,482 shares in the company, valued at approximately $506,195.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John B. Owen sold 40,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $14.63, for a total transaction of $585,200.00. Following the transaction, the chief operating officer now owns 87,152 shares of the company’s stock, valued at $1,275,033.76. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

NYSE:RF traded up $0.24 during trading hours on Monday, hitting $14.33. 204,733 shares of the company traded hands, compared to its average volume of 13,764,878. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.26 and a beta of 1.49. Regions Financial Corp has a twelve month low of $12.39 and a twelve month high of $19.99. The firm has a 50-day moving average of $15.07 and a 200 day moving average of $15.05. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. Equities research analysts predict that Regions Financial Corp will post 1.54 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.155 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a yield of 4.33%. The ex-dividend date is Thursday, September 5th. Regions Financial’s dividend payout ratio is presently 41.18%.

Regions Financial declared that its board has approved a stock buyback plan on Thursday, June 27th that authorizes the company to buyback $1.37 billion in shares. This buyback authorization authorizes the bank to purchase up to 9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Regions Financial Company 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: Buyback For Investors Defined

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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