GSA Capital Partners LLP Acquires New Position in Regions Financial Corp (RF)
GSA Capital Partners LLP acquired a new position in Regions Financial Corp (NYSE:RF) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 29,312 shares of the bank’s stock, valued at approximately $392,000.
A number of other large investors have also added to or reduced their stakes in RF. Lindbrook Capital LLC bought a new position in Regions Financial in the fourth quarter worth about $27,000. Legacy Financial Advisors Inc. bought a new position in Regions Financial in the fourth quarter worth about $30,000. Financial Architects Inc bought a new position in Regions Financial in the fourth quarter worth about $31,000. Whittier Trust Co. raised its holdings in Regions Financial by 84.7% in the fourth quarter. Whittier Trust Co. now owns 2,770 shares of the bank’s stock worth $37,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Doyle Wealth Management bought a new position in Regions Financial in the fourth quarter worth about $40,000. 72.12% of the stock is owned by institutional investors.
A number of brokerages have commented on RF. FIG Partners reiterated a “market-perform” rating on shares of Regions Financial in a report on Thursday, February 21st. Credit Suisse Group began coverage on shares of Regions Financial in a report on Monday, February 11th. They issued a “neutral” rating and a $17.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Regions Financial from a “neutral” rating to an “overweight” rating and set a $16.20 target price for the company in a report on Sunday, December 2nd. Nomura reiterated a “reduce” rating and issued a $14.90 target price (down from $17.00) on shares of Regions Financial in a report on Monday, December 10th. Finally, Sandler O’Neill downgraded shares of Regions Financial from a “buy” rating to a “hold” rating and set a $16.41 target price for the company. in a report on Thursday, February 28th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial currently has a consensus rating of “Hold” and an average price target of $17.38.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.01). Regions Financial had a net margin of 27.23% and a return on equity of 10.84%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $0.36 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Regions Financial Corp will post 1.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.56 dividend on an annualized basis and a yield of 3.56%. Regions Financial’s dividend payout ratio is currently 41.18%.
About Regions Financial
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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