Duality Advisers LP Acquires Shares of 233,318 Regions Financial Corp (NYSE:RF)
Duality Advisers LP bought a new position in Regions Financial Corp (NYSE:RF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 233,318 shares of the bank’s stock, valued at approximately $2,594,000.
Several other hedge funds also recently made changes to their positions in RF. Capital World Investors acquired a new position in shares of Regions Financial in the 1st quarter valued at $288,941,000. JPMorgan Chase & Co. grew its holdings in shares of Regions Financial by 309.9% in the 1st quarter. JPMorgan Chase & Co. now owns 19,757,041 shares of the bank’s stock valued at $177,221,000 after buying an additional 14,936,752 shares during the period. Norges Bank acquired a new position in shares of Regions Financial in the 4th quarter valued at $183,638,000. Wellington Management Group LLP increased its position in shares of Regions Financial by 4,630.9% in the 1st quarter. Wellington Management Group LLP now owns 6,559,059 shares of the bank’s stock valued at $58,835,000 after buying an additional 6,420,417 shares in the last quarter. Finally, Prudential PLC raised its stake in Regions Financial by 16,496.9% during the 1st quarter. Prudential PLC now owns 5,663,522 shares of the bank’s stock worth $50,802,000 after buying an additional 5,629,398 shares during the period. Institutional investors own 73.03% of the company’s stock.
In other news, Director Jose S. Suquet acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $9.88 per share, with a total value of $98,800.00. Following the completion of the transaction, the director now directly owns 41,527 shares of the company’s stock, valued at approximately $410,286.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose S. Suquet acquired 5,000 shares of Regions Financial stock in a transaction on Friday, May 8th. The shares were purchased at an average price of $10.21 per share, for a total transaction of $51,050.00. Following the completion of the purchase, the director now directly owns 41,527 shares of the company’s stock, valued at $423,990.67. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 17th. The bank reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.32). Regions Financial had a net margin of 11.32% and a return on equity of 5.10%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm posted $0.37 EPS. Analysts forecast that Regions Financial Corp will post 0.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Thursday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is 40.00%.
Several equities research analysts have issued reports on RF shares. Jefferies Financial Group restated a “buy” rating and issued a $11.00 price target on shares of Regions Financial in a report on Thursday, May 21st. ValuEngine upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Compass Point reduced their price target on shares of Regions Financial from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Bank of America lowered their price objective on shares of Regions Financial from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Finally, SunTrust Banks cut their price objective on shares of Regions Financial from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $13.34.
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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