Regions Financial Corp (NYSE:RF) Stock Position Lowered by Lathrop Investment Management Corp
Lathrop Investment Management Corp decreased its stake in Regions Financial Corp (NYSE:RF) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,737 shares of the bank’s stock after selling 3,610 shares during the quarter. Lathrop Investment Management Corp’s holdings in Regions Financial were worth $1,954,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. State of Michigan Retirement System lifted its position in Regions Financial by 10.5% in the 2nd quarter. State of Michigan Retirement System now owns 244,364 shares of the bank’s stock worth $2,717,000 after buying an additional 23,294 shares in the last quarter. Duality Advisers LP purchased a new stake in Regions Financial in the 2nd quarter worth approximately $2,594,000. Avestar Capital LLC purchased a new stake in Regions Financial in the 2nd quarter worth approximately $132,000. Pacer Advisors Inc. purchased a new stake in Regions Financial in the 2nd quarter worth approximately $902,000. Finally, Pinnacle Financial Partners Inc. lifted its position in Regions Financial by 1.1% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 141,675 shares of the bank’s stock worth $1,576,000 after buying an additional 1,569 shares in the last quarter. Institutional investors own 73.03% of the company’s stock.
NYSE RF traded up $0.11 during midday trading on Friday, hitting $10.86. The company had a trading volume of 11,041,728 shares, compared to its average volume of 9,056,344. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 3.46 and a beta of 1.69. The firm has a fifty day simple moving average of $11.02 and a two-hundred day simple moving average of $11.92. Regions Financial Corp has a fifty-two week low of $6.94 and a fifty-two week high of $17.54.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a $0.155 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $0.62 annualized dividend and a yield of 5.71%. Regions Financial’s dividend payout ratio is 40.00%.
In other Regions Financial news, Director Jose S. Suquet bought 5,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $10.21 per share, for a total transaction of $51,050.00. Following the transaction, the director now owns 41,527 shares in the company, valued at $423,990.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jose S. Suquet bought 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $9.88 per share, for a total transaction of $98,800.00. Following the completion of the transaction, the director now owns 41,527 shares in the company, valued at approximately $410,286.76. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.
A number of research analysts have recently weighed in on RF shares. Nomura Securities cut their price target on shares of Regions Financial from $17.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. ValuEngine upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Raymond James cut their price target on shares of Regions Financial from $15.00 to $14.00 and set a “strong-buy” rating on the stock in a report on Monday, July 20th. SunTrust Banks cut their price target on shares of Regions Financial from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, Wells Fargo & Co raised their price target on shares of Regions Financial from $12.00 to $15.00 in a report on Friday, June 5th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Regions Financial currently has an average rating of “Buy” and a consensus price target of $13.34.
Regions Financial Company Profile
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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