Smith Shellnut Wilson LLC ADV maintained its stake in Regions Financial Corporation (NYSE:RF) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,202 shares of the bank’s stock at the end of the second quarter. Smith Shellnut Wilson LLC ADV’s holdings in Regions Financial Corporation were worth $419,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. FNY Partners Fund LP purchased a new position in shares of Regions Financial Corporation during the first quarter valued at $103,000. Bronfman E.L. Rothschild L.P. increased its position in Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock valued at $104,000 after buying an additional 666 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock valued at $126,000 after buying an additional 28 shares during the period. Cornerstone Wealth Management LLC bought a new position in Regions Financial Corporation during the first quarter valued at approximately $146,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Regions Financial Corporation during the first quarter valued at approximately $148,000. Hedge funds and other institutional investors own 76.40% of the company’s stock.
Shares of Regions Financial Corporation (NYSE RF) traded up 0.07% on Tuesday, hitting $14.76. 7,861,102 shares of the company traded hands. Regions Financial Corporation has a 12 month low of $8.37 and a 12 month high of $16.03. The company has a market capitalization of $17.74 billion, a PE ratio of 16.22 and a beta of 1.32. The stock’s 50-day moving average price is $14.10 and its 200-day moving average price is $14.41.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Tuesday, April 18th. The bank reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Regions Financial Corporation had a net margin of 19.94% and a return on equity of 7.27%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. On average, equities analysts predict that Regions Financial Corporation will post $0.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 9th were issued a dividend of $0.07 per share. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.28 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, June 7th. Regions Financial Corporation’s dividend payout ratio (DPR) is 31.11%.
Several research firms have commented on RF. Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Instinet increased their price objective on shares of Regions Financial Corporation from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, June 30th. Royal Bank Of Canada reissued a “hold” rating and set a $15.00 price objective on shares of Regions Financial Corporation in a report on Friday, June 23rd. Keefe, Bruyette & Woods set a $15.00 price target on shares of Regions Financial Corporation and gave the company a “hold” rating in a report on Tuesday, June 20th. Finally, BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.18.
In related news, EVP C. Keith Herron sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $14.30, for a total value of $429,000.00. Following the sale, the executive vice president now directly owns 204,537 shares of the company’s stock, valued at $2,924,879.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David J. Turner, Jr. sold 45,535 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $13.82, for a total transaction of $629,293.70. Following the completion of the sale, the chief financial officer now directly owns 126,160 shares in the company, valued at $1,743,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 396,176 shares of company stock valued at $5,418,986 over the last 90 days. 0.52% of the stock is currently owned by insiders.
About Regions Financial Corporation
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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