Trustmark National Bank Trust Department cut its holdings in Regions Financial Corp (NYSE:RF) by 50.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,761 shares of the bank’s stock after selling 17,100 shares during the period. Trustmark National Bank Trust Department’s holdings in Regions Financial were worth $150,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. APG Asset Management N.V. raised its position in shares of Regions Financial by 27.4% in the 1st quarter. APG Asset Management N.V. now owns 1,297,707 shares of the bank’s stock worth $16,354,000 after acquiring an additional 278,926 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Regions Financial in the 1st quarter worth about $532,000. Deutsche Bank AG raised its position in shares of Regions Financial by 25.9% in the 1st quarter. Deutsche Bank AG now owns 2,836,404 shares of the bank’s stock worth $25,443,000 after acquiring an additional 582,710 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Regions Financial by 18.3% in the 1st quarter. Alliancebernstein L.P. now owns 2,207,886 shares of the bank’s stock worth $19,805,000 after acquiring an additional 340,804 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Regions Financial by 3.7% in the 1st quarter. M&T Bank Corp now owns 58,484 shares of the bank’s stock worth $526,000 after acquiring an additional 2,096 shares in the last quarter. 73.09% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Jose S. Suquet purchased 5,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $10.21 per share, with a total value of $51,050.00. Following the acquisition, the director now owns 41,527 shares of the company’s stock, valued at approximately $423,990.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jose S. Suquet purchased 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $9.88 per share, for a total transaction of $98,800.00. Following the acquisition, the director now directly owns 41,527 shares in the company, valued at approximately $410,286.76. The disclosure for this purchase can be found here. 0.47% of the stock is owned by insiders.
Several analysts have recently commented on the company. SunTrust Banks raised their target price on Regions Financial from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Deutsche Bank reduced their target price on Regions Financial from $17.50 to $12.00 and set a “hold” rating for the company in a research note on Thursday, April 2nd. Robert W. Baird upgraded Regions Financial from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a research note on Monday, March 2nd. ValuEngine downgraded Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Finally, Goldman Sachs Group upgraded Regions Financial from a “buy” rating to a “conviction-buy” rating and set a $14.00 target price for the company in a research note on Thursday, March 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.00.
RF stock traded down $1.08 during mid-day trading on Thursday, reaching $11.58. 6,504,386 shares of the company traded hands, compared to its average volume of 13,213,016. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 3.26 and a beta of 1.68. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. Regions Financial Corp has a fifty-two week low of $6.94 and a fifty-two week high of $17.54. The firm’s 50 day moving average price is $10.59 and its 200 day moving average price is $13.42.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 17th. The bank reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Regions Financial had a return on equity of 9.09% and a net margin of 20.35%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, analysts anticipate that Regions Financial Corp will post 0.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.35%. Regions Financial’s payout ratio is presently 40.00%.
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.
Read More: Beige Book
Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corp (NYSE:RF).
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.