Nomura Holdings Inc. lowered its holdings in Regions Financial Corp (NYSE:RF) by 81.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,513 shares of the bank’s stock after selling 721,514 shares during the quarter. Nomura Holdings Inc.’s holdings in Regions Financial were worth $2,961,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in RF. American Century Companies Inc. grew its position in Regions Financial by 57.8% during the first quarter. American Century Companies Inc. now owns 16,484 shares of the bank’s stock valued at $306,000 after buying an additional 6,039 shares during the period. Victory Capital Management Inc. grew its position in Regions Financial by 15.9% during the first quarter. Victory Capital Management Inc. now owns 163,937 shares of the bank’s stock valued at $3,046,000 after buying an additional 22,500 shares during the period. State of Wisconsin Investment Board grew its position in Regions Financial by 20.0% during the first quarter. State of Wisconsin Investment Board now owns 174,084 shares of the bank’s stock valued at $3,234,000 after buying an additional 28,989 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Regions Financial by 18.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,059 shares of the bank’s stock valued at $391,000 after buying an additional 3,278 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Regions Financial during the first quarter valued at $227,000. Hedge funds and other institutional investors own 74.80% of the company’s stock.
Shares of NYSE:RF traded down $0.45 during midday trading on Friday, hitting $17.29. The company’s stock had a trading volume of 19,812,934 shares, compared to its average volume of 11,076,339. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.66. The company has a market cap of $20.23 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.04 and a beta of 1.29. Regions Financial Corp has a 12-month low of $14.62 and a 12-month high of $20.21.
Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 20th. The bank reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 22.77% and a return on equity of 9.46%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. On average, analysts expect that Regions Financial Corp will post 1.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were paid a $0.14 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.09. This represents a $0.56 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, September 6th. Regions Financial’s dividend payout ratio (DPR) is currently 56.00%.
RF has been the topic of several analyst reports. Vining Sparks restated a “buy” rating and set a $22.00 price target on shares of Regions Financial in a research report on Tuesday. Wedbush set a $22.00 price target on shares of Regions Financial and gave the company a “buy” rating in a research report on Friday, September 7th. ValuEngine lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Robert W. Baird upgraded shares of Regions Financial from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. Finally, Royal Bank of Canada upgraded shares of Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research report on Monday, June 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.23.
In other news, Director Susan W. Matlock sold 24,000 shares of the firm’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $18.50, for a total value of $444,000.00. Following the transaction, the director now directly owns 14,914 shares of the company’s stock, valued at $275,909. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP C. Keith Herron sold 23,186 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $18.76, for a total transaction of $434,969.36. Following the completion of the transaction, the executive vice president now directly owns 204,537 shares in the company, valued at $3,837,114.12. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.
Regions Financial Company Profile
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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