KG&L Capital Management LLC increased its stake in Regions Financial Corp (NYSE:RF) by 2.2% in the first quarter, Holdings Channel reports. The institutional investor owned 47,163 shares of the bank’s stock after acquiring an additional 995 shares during the quarter. KG&L Capital Management LLC’s holdings in Regions Financial were worth $667,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of RF. JPMorgan Chase & Co. raised its stake in shares of Regions Financial by 17.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,054,121 shares of the bank’s stock valued at $367,993,000 after acquiring an additional 3,013,569 shares during the period. Legal & General Group Plc increased its stake in Regions Financial by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 5,441,118 shares of the bank’s stock worth $99,893,000 after buying an additional 71,861 shares during the period. Morgan Stanley increased its stake in Regions Financial by 61.7% during the 3rd quarter. Morgan Stanley now owns 6,996,887 shares of the bank’s stock worth $128,394,000 after buying an additional 2,670,907 shares during the period. Marshall Wace North America L.P. purchased a new stake in Regions Financial during the 3rd quarter worth approximately $244,000. Finally, DNB Asset Management AS increased its stake in Regions Financial by 15.8% during the 4th quarter. DNB Asset Management AS now owns 159,679 shares of the bank’s stock worth $2,137,000 after buying an additional 21,800 shares during the period. Institutional investors and hedge funds own 71.80% of the company’s stock.
In other news, COO John B. Owen sold 61,756 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $15.25, for a total value of $941,779.00. Following the completion of the transaction, the chief operating officer now owns 127,152 shares in the company, valued at approximately $1,939,068. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Scott M. Peters sold 30,877 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $15.19, for a total transaction of $469,021.63. Following the completion of the transaction, the executive vice president now owns 50,486 shares of the company’s stock, valued at approximately $766,882.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,510 shares of company stock valued at $1,889,394. Company insiders own 0.28% of the company’s stock.
Shares of NYSE:RF traded down $0.39 during trading hours on Wednesday, reaching $14.15. The stock had a trading volume of 246,487 shares, compared to its average volume of 12,647,079. Regions Financial Corp has a 1 year low of $12.39 and a 1 year high of $19.99. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.88. The company has a market cap of $14.44 billion, a PE ratio of 10.38, a P/E/G ratio of 1.06 and a beta of 1.49.
Regions Financial (NYSE:RF) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.37 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.37. Regions Financial had a net margin of 26.38% and a return on equity of 10.76%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $0.35 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts expect that Regions Financial Corp will post 1.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, June 6th. Regions Financial’s dividend payout ratio is presently 41.18%.
Several equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of Regions Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Morgan Stanley cut their target price on shares of Regions Financial from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Sandler O’Neill raised shares of Regions Financial from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Wedbush downgraded shares of Regions Financial from an “outperform” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Monday, February 4th. They noted that the move was a valuation call. Finally, Nomura raised shares of Regions Financial from a “reduce” rating to a “neutral” rating and set a $14.00 target price on the stock in a research note on Friday, March 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.19.
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Regions Financial 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.
Further Reading: Asset Allocation and Your Retirement
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