CIBC Asset Management Inc lowered its holdings in Regions Financial Corp (NYSE:RF) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,507 shares of the bank’s stock after selling 5,542 shares during the period. CIBC Asset Management Inc’s holdings in Regions Financial were worth $1,762,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Buffington Mohr McNeal purchased a new position in shares of Regions Financial in the first quarter valued at $28,000. Lindbrook Capital LLC purchased a new position in shares of Regions Financial in the fourth quarter valued at $27,000. Financial Architects Inc purchased a new position in shares of Regions Financial in the fourth quarter valued at $31,000. Whittier Trust Co. boosted its stake in shares of Regions Financial by 84.7% in the fourth quarter. Whittier Trust Co. now owns 2,770 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,270 shares during the period. Finally, Doyle Wealth Management purchased a new position in shares of Regions Financial in the fourth quarter valued at $40,000. 71.80% of the stock is owned by institutional investors.
NYSE RF opened at $14.47 on Tuesday. Regions Financial Corp has a 12 month low of $12.39 and a 12 month high of $19.99. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.90 and a current ratio of 0.91. The firm has a market cap of $14.59 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 1.06 and a beta of 1.49.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.87%. Regions Financial’s payout ratio is currently 41.18%.
In other news, COO John B. Owen sold 61,756 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $15.25, for a total value of $941,779.00. Following the transaction, the chief operating officer now directly owns 127,152 shares in the company, valued at approximately $1,939,068. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David R. Keenan sold 30,877 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $15.50, for a total transaction of $478,593.50. Following the completion of the transaction, the executive vice president now owns 24,321 shares in the company, valued at $376,975.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,510 shares of company stock worth $1,889,394. Insiders own 0.28% of the company’s stock.
RF has been the subject of several analyst reports. Sandler O’Neill upgraded shares of Regions Financial from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. UBS Group set a $17.00 target price on shares of Regions Financial and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Morgan Stanley decreased their target price on shares of Regions Financial from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. FIG Partners restated a “market-perform” rating on shares of Regions Financial in a research note on Thursday, February 21st. Finally, Nomura upgraded shares of Regions Financial from a “reduce” rating to a “neutral” rating and set a $14.00 price objective on the stock in a research note on Friday, March 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.19.
Regions Financial 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.
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