Ontario Teachers Pension Plan Board boosted its stake in Regions Financial Corp (NYSE:RF) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,251 shares of the bank’s stock after purchasing an additional 7,482 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Regions Financial were worth $2,352,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Lindbrook Capital LLC acquired a new position in Regions Financial in the 4th quarter valued at approximately $27,000. Buffington Mohr McNeal acquired a new stake in shares of Regions Financial during the first quarter worth $28,000. Financial Architects Inc acquired a new stake in shares of Regions Financial during the fourth quarter worth $31,000. Whittier Trust Co. increased its position in shares of Regions Financial by 84.7% during the fourth quarter. Whittier Trust Co. now owns 2,770 shares of the bank’s stock worth $37,000 after buying an additional 1,270 shares during the period. Finally, Doyle Wealth Management acquired a new stake in shares of Regions Financial during the fourth quarter worth $40,000. 71.53% of the stock is owned by institutional investors and hedge funds.
NYSE RF traded up $0.36 on Friday, hitting $14.94. 14,479,648 shares of the company were exchanged, compared to its average volume of 11,426,349. The stock has a market capitalization of $14.77 billion, a P/E ratio of 10.99, a PEG ratio of 1.13 and a beta of 1.51. Regions Financial Corp has a 12 month low of $12.39 and a 12 month high of $19.99. The stock’s fifty day moving average is $14.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.90 and a current ratio of 0.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, June 6th. Regions Financial’s dividend payout ratio (DPR) is 41.18%.
In related news, EVP Scott M. Peters sold 30,877 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $15.19, for a total transaction of $469,021.63. Following the transaction, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at $766,882.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John B. Owen sold 61,756 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $15.25, for a total transaction of $941,779.00. Following the transaction, the chief operating officer now directly owns 127,152 shares in the company, valued at $1,939,068. The disclosure for this sale can be found here. Insiders sold 123,510 shares of company stock worth $1,889,394 over the last ninety days. Insiders own 0.28% of the company’s stock.
Several equities research analysts have recently weighed in on RF shares. Sandler O’Neill upgraded shares of Regions Financial from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. UBS Group set a $17.00 price objective on shares of Regions Financial and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Morgan Stanley decreased their price objective on shares of Regions Financial from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Nomura upgraded shares of Regions Financial from a “reduce” rating to a “neutral” rating and set a $14.00 price objective for the company in a research report on Friday, March 29th. Finally, BMO Capital Markets started coverage on shares of Regions Financial in a research report on Tuesday, March 12th. They set an “outperform” rating and a $17.00 price objective for the company. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Regions Financial presently has a consensus rating of “Hold” and an average price target of $17.66.
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.
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