Paradigm Financial Advisors LLC Has $171,000 Stake in Regions Financial Corporation (RF)
Paradigm Financial Advisors LLC decreased its stake in shares of Regions Financial Corporation (NYSE:RF) by 2.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,695 shares of the bank’s stock after selling 283 shares during the period. Paradigm Financial Advisors LLC’s holdings in Regions Financial Corporation were worth $171,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. OMERS ADMINISTRATION Corp acquired a new position in shares of Regions Financial Corporation during the 2nd quarter valued at about $1,259,000. Bailard Inc. grew its holdings in Regions Financial Corporation by 602.4% in the 1st quarter. Bailard Inc. now owns 134,309 shares of the bank’s stock valued at $1,952,000 after buying an additional 115,187 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Regions Financial Corporation in the 1st quarter valued at approximately $56,133,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Regions Financial Corporation by 17.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 295,359 shares of the bank’s stock valued at $4,324,000 after buying an additional 44,909 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Regions Financial Corporation by 45.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 77,823 shares of the bank’s stock valued at $1,139,000 after buying an additional 24,390 shares during the last quarter. 75.53% of the stock is currently owned by institutional investors and hedge funds.
Regions Financial Corporation (NYSE:RF) traded up 0.573% during trading on Monday, hitting $14.915. The company had a trading volume of 2,735,888 shares. Regions Financial Corporation has a one year low of $9.87 and a one year high of $16.03. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 15.585 and a beta of 1.34. The stock has a 50-day moving average of $14.41 and a 200 day moving average of $14.30.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 earnings per share. Equities analysts forecast that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
Regions Financial Corporation announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $1.47 billion in shares. This buyback authorization allows the bank to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.43%. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio is currently 37.89%.
In other Regions Financial Corporation news, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the sale, the chief financial officer now directly owns 121,160 shares in the company, valued at $1,811,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan W. Matlock sold 10,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $15.23, for a total value of $152,300.00. Following the sale, the director now owns 32,188 shares of the company’s stock, valued at $490,223.24. The disclosure for this sale can be found here. Insiders have sold 124,514 shares of company stock worth $1,846,733 in the last three months. 0.52% of the stock is currently owned by company insiders.
A number of analysts have issued reports on RF shares. BidaskClub lowered Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Vining Sparks raised Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Robert W. Baird lowered Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 target price on the stock. in a report on Monday, October 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $14.50 target price on shares of Regions Financial Corporation in a report on Thursday, August 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.50 target price on shares of Regions Financial Corporation in a report on Friday, September 15th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.95.
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Regions Financial Corporation Profile
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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