Advisory Services Network LLC grew its holdings in Regions Financial Corp (NYSE:RF) by 61.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,694 shares of the bank’s stock after purchasing an additional 2,933 shares during the period. Advisory Services Network LLC’s holdings in Regions Financial were worth $141,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc purchased a new position in Regions Financial in the 1st quarter worth approximately $117,000. First Mercantile Trust Co. bought a new stake in Regions Financial during the 2nd quarter valued at $150,000. Signaturefd LLC bought a new stake in Regions Financial during the 1st quarter valued at $167,000. Wedbush Securities Inc. bought a new stake in Regions Financial during the 1st quarter valued at $188,000. Finally, Smithfield Trust Co. bought a new position in Regions Financial in the 1st quarter worth $189,000. 74.78% of the stock is currently owned by institutional investors.
In other news, EVP C. Keith Herron sold 23,186 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $18.76, for a total value of $434,969.36. Following the transaction, the executive vice president now owns 204,537 shares in the company, valued at approximately $3,837,114.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William E. Horton sold 18,254 shares of the stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $19.08, for a total transaction of $348,286.32. Following the completion of the transaction, the executive vice president now owns 51,463 shares in the company, valued at approximately $981,914.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,440 shares of company stock worth $1,227,256. Insiders own 0.84% of the company’s stock.
Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 20th. The bank reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 22.77% and a return on equity of 9.46%. Regions Financial’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. research analysts predict that Regions Financial Corp will post 1.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, September 6th. This is an increase from Regions Financial’s previous quarterly dividend of $0.09. Regions Financial’s dividend payout ratio (DPR) is presently 36.00%.
RF has been the subject of several research reports. ValuEngine lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Royal Bank of Canada upgraded shares of Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price objective for the company in a report on Monday, June 18th. Finally, Robert W. Baird upgraded shares of Regions Financial from an “underperform” rating to a “neutral” rating in a report on Thursday, June 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial presently has an average rating of “Hold” and a consensus price target of $17.43.
About Regions Financial
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other specialty financing.
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