Rhumbline Advisers Cuts Stock Position in Regions Financial Corporation $RF

Rhumbline Advisers lessened its position in shares of Regions Financial Corporation (NYSE:RF) by 1.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,928,573 shares of the bank’s stock after selling 28,039 shares during the period. Rhumbline Advisers’ holdings in Regions Financial were worth $50,856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Regions Financial in the second quarter worth $246,790,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Regions Financial by 620.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock worth $60,293,000 after purchasing an additional 2,207,585 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new position in Regions Financial during the 2nd quarter worth $24,927,000. Midwest Trust Co acquired a new position in Regions Financial during the 2nd quarter valued at about $14,519,000. Finally, Schroder Investment Management Group raised its stake in Regions Financial by 56.8% in the second quarter. Schroder Investment Management Group now owns 1,558,174 shares of the bank’s stock valued at $36,648,000 after buying an additional 564,281 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $29.73 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $31.53. The firm has a 50 day moving average of $28.29 and a two-hundred day moving average of $26.53. The firm has a market capitalization of $26.07 billion, a PE ratio of 12.98, a P/E/G ratio of 1.06 and a beta of 1.04.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the company earned $0.56 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial announced that its board has approved a stock buyback program on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 46.29%.

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RF. TD Cowen restated a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. UBS Group reiterated a “neutral” rating and issued a $30.00 target price on shares of Regions Financial in a research note on Wednesday, February 4th. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research note on Monday, January 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $31.00 price target on shares of Regions Financial in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $29.84.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.