Callahan Advisors LLC grew its stake in shares of Regions Financial Corp (NYSE:RF) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,600 shares of the bank’s stock after purchasing an additional 1,100 shares during the quarter. Callahan Advisors LLC’s holdings in Regions Financial were worth $500,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Signature Wealth Management Group boosted its stake in shares of Regions Financial by 0.9% during the third quarter. Signature Wealth Management Group now owns 212,010 shares of the bank’s stock valued at $3,354,000 after purchasing an additional 1,898 shares during the period. Strs Ohio lifted its stake in Regions Financial by 1.1% in the third quarter. Strs Ohio now owns 580,992 shares of the bank’s stock worth $9,191,000 after acquiring an additional 6,277 shares during the period. Stephens Inc. AR lifted its stake in Regions Financial by 4.6% in the third quarter. Stephens Inc. AR now owns 348,781 shares of the bank’s stock worth $5,518,000 after acquiring an additional 15,442 shares during the period. Moody National Bank Trust Division lifted its stake in Regions Financial by 7.7% in the third quarter. Moody National Bank Trust Division now owns 28,401 shares of the bank’s stock worth $449,000 after acquiring an additional 2,022 shares during the period. Finally, Arlington Partners LLC lifted its stake in Regions Financial by 219.9% in the third quarter. Arlington Partners LLC now owns 8,119 shares of the bank’s stock worth $128,000 after acquiring an additional 5,581 shares during the period. 71.60% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:RF traded up $0.30 on Monday, hitting $16.07. 8,955,467 shares of the company traded hands, compared to its average volume of 11,692,845. Regions Financial Corp has a 52 week low of $12.39 and a 52 week high of $17.88. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $15.50 and a 200-day simple moving average of $14.98. The company has a market cap of $16.03 billion, a PE ratio of 11.82, a PEG ratio of 1.54 and a beta of 1.55.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. Regions Financial had a return on equity of 10.86% and a net margin of 26.43%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned $0.32 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Regions Financial Corp will post 1.54 earnings per share for the current year.
Regions Financial announced that its board has approved a stock repurchase plan on Thursday, June 27th that allows the company to buyback $1.37 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.155 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.62 annualized dividend and a dividend yield of 3.86%. Regions Financial’s payout ratio is presently 45.59%.
In related news, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $14.68, for a total transaction of $104,932.64. Following the sale, the insider now directly owns 34,482 shares of the company’s stock, valued at $506,195.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP C. Matthew Lusco sold 20,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $16.43, for a total value of $328,600.00. Following the sale, the executive vice president now directly owns 163,229 shares in the company, valued at $2,681,852.47. The disclosure for this sale can be found here. Insiders have sold 136,436 shares of company stock valued at $2,024,102 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.
A number of brokerages recently commented on RF. Raymond James set a $18.50 price target on Regions Financial and gave the stock a “buy” rating in a research note on Thursday, September 12th. SunTrust Banks decreased their price objective on Regions Financial from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $15.00 to $17.00 in a report on Monday, July 22nd. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $18.00 in a report on Tuesday, October 8th. Finally, ValuEngine upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.74.
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.
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