Ossiam Reduces Stock Position in Regions Financial Corp (NYSE:RF)

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Ossiam cut its stake in Regions Financial Corp (NYSE:RF) by 86.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,974 shares of the bank’s stock after selling 50,511 shares during the period. Ossiam’s holdings in Regions Financial were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of RF. Lazard Asset Management LLC lifted its holdings in Regions Financial by 239.2% in the first quarter. Lazard Asset Management LLC now owns 3,243,297 shares of the bank’s stock valued at $45,892,000 after acquiring an additional 2,287,112 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in Regions Financial by 68.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,992,292 shares of the bank’s stock valued at $42,341,000 after acquiring an additional 1,219,011 shares during the last quarter. Marshall Wace LLP lifted its holdings in Regions Financial by 928.2% in the first quarter. Marshall Wace LLP now owns 1,107,998 shares of the bank’s stock valued at $15,678,000 after acquiring an additional 1,000,240 shares during the last quarter. CWM LLC lifted its holdings in Regions Financial by 6,461.9% in the second quarter. CWM LLC now owns 986,117 shares of the bank’s stock valued at $14,733,000 after acquiring an additional 971,089 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Regions Financial by 15.9% in the second quarter. Janus Henderson Group PLC now owns 6,939,658 shares of the bank’s stock valued at $103,675,000 after acquiring an additional 953,190 shares during the last quarter. Institutional investors and hedge funds own 71.60% of the company’s stock.

In other news, EVP C. Keith Herron sold 69,288 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $14.51, for a total transaction of $1,005,368.88. Following the sale, the executive vice president now owns 232,595 shares of the company’s stock, valued at $3,374,953.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $14.68, for a total value of $104,932.64. Following the sale, the insider now directly owns 34,482 shares in the company, valued at approximately $506,195.76. The disclosure for this sale can be found here. Insiders have sold 116,436 shares of company stock worth $1,695,502 over the last 90 days. 0.28% of the stock is owned by insiders.

NYSE:RF traded up $0.25 during trading hours on Friday, reaching $16.50. 363,548 shares of the stock were exchanged, compared to its average volume of 10,449,001. 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 business has a 50-day moving average of $14.77 and a two-hundred day moving average of $14.91. Regions Financial Corp has a twelve month low of $12.39 and a twelve month high of $19.55. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.48 and a beta of 1.54.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. Regions Financial had a return on equity of 10.86% and a net margin of 26.43%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, research analysts forecast that Regions Financial Corp will post 1.54 EPS for the current fiscal year.

Regions Financial announced that its board has authorized a share repurchase program on Thursday, June 27th that authorizes the company to buyback $1.37 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.76%. This is a boost from Regions Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 5th. Regions Financial’s dividend payout ratio is 45.59%.

A number of research analysts recently commented on RF shares. SunTrust Banks decreased their price objective on Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Morgan Stanley set a $16.00 price objective on Regions Financial and gave the company a “hold” rating in a report on Friday, August 9th. Raymond James set a $17.00 price objective on Regions Financial and gave the company a “buy” rating in a report on Thursday, August 29th. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $15.00 to $17.00 in a report on Monday, July 22nd. Finally, Bank of America cut Regions Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $16.00 in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.24.

About Regions Financial

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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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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