Convergence Investment Partners LLC Cuts Stake in Regions Financial Corp (NYSE:RF)

Convergence Investment Partners LLC lowered its position in shares of Regions Financial Corp (NYSE:RF) by 61.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,641 shares of the bank’s stock after selling 82,781 shares during the period. Convergence Investment Partners LLC’s holdings in Regions Financial were worth $574,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RF. AQR Capital Management LLC boosted its position in Regions Financial by 156.9% during the fourth quarter. AQR Capital Management LLC now owns 152,246 shares of the bank’s stock valued at $2,613,000 after purchasing an additional 92,977 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Regions Financial by 8.4% during the 1st quarter. State of Alaska Department of Revenue now owns 603,633 shares of the bank’s stock worth $5,414,000 after purchasing an additional 46,864 shares during the period. IBM Retirement Fund increased its holdings in Regions Financial by 62.0% during the 1st quarter. IBM Retirement Fund now owns 22,989 shares of the bank’s stock worth $206,000 after purchasing an additional 8,801 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Regions Financial by 8.1% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 95,221 shares of the bank’s stock worth $854,000 after purchasing an additional 7,165 shares during the period. Finally, Southeast Asset Advisors Inc. increased its holdings in Regions Financial by 8.0% during the 1st quarter. Southeast Asset Advisors Inc. now owns 69,463 shares of the bank’s stock worth $623,000 after purchasing an additional 5,158 shares during the period. Hedge funds and other institutional investors own 73.03% of the company’s stock.

In other Regions Financial news, Director Jose S. Suquet bought 10,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $9.88 per share, with a total value of $98,800.00. Following the purchase, the director now owns 41,527 shares in the company, valued at approximately $410,286.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jose S. Suquet bought 5,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $10.21 per share, with a total value of $51,050.00. Following the completion of the purchase, the director now owns 41,527 shares in the company, valued at approximately $423,990.67. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.

RF has been the topic of several recent research reports. Royal Bank of Canada restated a “buy” rating and set a $13.00 price target on shares of Regions Financial in a report on Monday, July 20th. Bank of America cut their price target on Regions Financial from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. SunTrust Banks lowered their price objective on Regions Financial from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, July 20th. UBS Group upped their price objective on Regions Financial from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Raymond James lowered their price objective on Regions Financial from $15.00 to $14.00 and set a “strong-buy” rating for the company in a research report on Monday, July 20th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $13.34.

Regions Financial stock traded up $0.11 during mid-day trading on Friday, reaching $10.86. 11,041,728 shares of the company were exchanged, compared to its average volume of 9,056,344. Regions Financial Corp has a twelve month low of $6.94 and a twelve month high of $17.54. The firm’s 50-day simple moving average is $11.02 and its two-hundred day simple moving average is $11.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a market cap of $10.42 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 3.49 and a beta of 1.69.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 17th. The bank reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.32). Regions Financial had a return on equity of 5.10% and a net margin of 11.32%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business posted $0.37 earnings per share. As a group, equities research analysts anticipate that Regions Financial Corp will post 0.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend is Thursday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is 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.

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

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