Todd Asset Management LLC Increases Stake in Regions Financial Corp (NYSE:RF)

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Todd Asset Management LLC lifted its holdings in Regions Financial Corp (NYSE:RF) by 7.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,064,487 shares of the bank’s stock after purchasing an additional 70,619 shares during the quarter. Todd Asset Management LLC owned 0.11% of Regions Financial worth $15,903,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RF. Lazard Asset Management LLC grew its holdings in shares of Regions Financial by 239.2% in the first quarter. Lazard Asset Management LLC now owns 3,243,297 shares of the bank’s stock valued at $45,892,000 after purchasing an additional 2,287,112 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Regions Financial by 68.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,992,292 shares of the bank’s stock valued at $42,341,000 after purchasing an additional 1,219,011 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Regions Financial in the first quarter valued at $16,980,000. Marshall Wace LLP grew its holdings in shares of Regions Financial by 928.2% in the first quarter. Marshall Wace LLP now owns 1,107,998 shares of the bank’s stock valued at $15,678,000 after purchasing an additional 1,000,240 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Regions Financial by 6,461.9% in the second quarter. CWM LLC now owns 986,117 shares of the bank’s stock valued at $14,733,000 after purchasing an additional 971,089 shares in the last quarter. 71.32% of the stock is owned by hedge funds and other institutional investors.

RF traded down $0.46 during trading on Friday, reaching $13.79. The company had a trading volume of 11,171,233 shares, compared to its average volume of 12,653,723. The stock has a market cap of $14.22 billion, a P/E ratio of 10.14, a PEG ratio of 1.32 and a beta of 1.49. The business has a 50 day simple moving average of $14.95 and a 200-day simple moving average of $15.01. Regions Financial Corp has a 52 week low of $12.39 and a 52 week high of $19.99. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.60.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Regions Financial had a return on equity of 10.86% and a net margin of 26.43%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned $0.32 earnings per share. Regions Financial’s revenue was down .1% on a year-over-year basis. As a group, equities research analysts expect that Regions Financial Corp will post 1.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.50%. This is an increase from Regions Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 5th. Regions Financial’s dividend payout ratio (DPR) is 41.18%.

Regions Financial announced that its board has authorized a stock repurchase plan on Thursday, June 27th that permits the company to repurchase $1.37 billion in shares. This repurchase authorization permits the bank to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of research analysts recently weighed in on the stock. Morgan Stanley set a $16.00 target price on shares of Regions Financial and gave the company a “hold” rating in a report on Friday, August 9th. Bank of America lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $18.00 to $16.00 in a report on Thursday, July 11th. Finally, Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and raised their target price for the company from $15.00 to $17.00 in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.33.

In other news, COO John B. Owen sold 40,000 shares of Regions Financial stock in a transaction on Friday, August 9th. The stock was sold at an average price of $14.63, for a total transaction of $585,200.00. Following the completion of the sale, the chief operating officer now directly owns 87,152 shares in the company, valued at $1,275,033.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of Regions Financial stock in a transaction on Friday, August 9th. The stock was sold at an average price of $14.68, for a total value of $104,932.64. Following the sale, the insider now owns 34,482 shares of the company’s stock, valued at $506,195.76. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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