Stoneridge Investment Partners LLC Has $5.03 Million Stake in Regions Financial Corp (RF)
Stoneridge Investment Partners LLC reduced its stake in Regions Financial Corp (NYSE:RF) by 11.7% during the 4th quarter, HoldingsChannel reports. The fund owned 290,882 shares of the bank’s stock after selling 38,701 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Regions Financial were worth $5,026,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. IFG Advisory LLC acquired a new stake in Regions Financial in the fourth quarter valued at $306,000. Welch Investments LLC acquired a new stake in Regions Financial in the fourth quarter valued at $120,000. Steward Partners Investment Advisory LLC acquired a new stake in Regions Financial in the third quarter valued at $150,000. Pax World Management LLC acquired a new stake in Regions Financial in the third quarter valued at $154,000. Finally, Brightworth acquired a new stake in Regions Financial in the third quarter valued at $159,000. Institutional investors and hedge funds own 76.99% of the company’s stock.
Regions Financial Corp (NYSE RF) opened at $17.92 on Tuesday. The stock has a market capitalization of $21,829.50, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. Regions Financial Corp has a twelve month low of $13.00 and a twelve month high of $19.90. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53.
In related news, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total transaction of $255,600.00. Following the transaction, the director now owns 59,436 shares of the company’s stock, valued at $1,012,789.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott M. Peters sold 25,627 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $19.50, for a total value of $499,726.50. Following the transaction, the executive vice president now directly owns 240,796 shares in the company, valued at approximately $4,695,522. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
A number of research firms have weighed in on RF. Morgan Stanley raised their price target on Regions Financial from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday. Barclays restated a “sell” rating and issued a $20.00 price target on shares of Regions Financial in a research note on Tuesday, January 23rd. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 price target on shares of Regions Financial in a research note on Friday, January 19th. Royal Bank of Canada restated a “hold” rating and issued a $18.00 price target on shares of Regions Financial in a research note on Sunday, January 21st. Finally, Sandler O’Neill upgraded Regions Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.24.
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Regions Financial Company 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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