CoreCap Advisors LLC Buys Shares of 5,321 Regions Financial Co. (NYSE:RF)

CoreCap Advisors LLC bought a new stake in Regions Financial Co. (NYSE:RFGet Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,321 shares of the bank’s stock, valued at approximately $100,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Regions Financial by 2.2% during the first quarter. BlackRock Inc. now owns 98,861,676 shares of the bank’s stock worth $2,200,661,000 after acquiring an additional 2,150,107 shares during the period. JPMorgan Chase & Co. increased its position in shares of Regions Financial by 2.6% during the first quarter. JPMorgan Chase & Co. now owns 21,902,764 shares of the bank’s stock worth $487,555,000 after acquiring an additional 550,917 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 3.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,271,811 shares of the bank’s stock worth $362,211,000 after acquiring an additional 536,935 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Regions Financial by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 13,256,230 shares of the bank’s stock worth $295,114,000 after acquiring an additional 71,215 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Regions Financial by 296.5% during the first quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock worth $234,902,000 after acquiring an additional 7,891,037 shares during the period. Hedge funds and other institutional investors own 73.61% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE:RF opened at $22.74 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.17. The company has a market cap of $21.25 billion, a P/E ratio of 11.37, a PEG ratio of 0.95 and a beta of 1.22. Regions Financial Co. has a 52 week low of $18.01 and a 52 week high of $25.57. The company has a 50-day moving average price of $21.53 and a 200 day moving average price of $21.01.

Regions Financial (NYSE:RFGet Rating) last announced its quarterly earnings data on Friday, October 21st. The bank reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.81 billion. Regions Financial had a net margin of 28.34% and a return on equity of 14.13%. Regions Financial’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Research analysts predict that Regions Financial Co. will post 2.35 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 8th will be given a $0.20 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.52%. Regions Financial’s payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

RF has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Regions Financial from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, October 5th. JPMorgan Chase & Co. upped their price objective on shares of Regions Financial from $23.50 to $25.00 in a research note on Wednesday, November 2nd. Stephens upped their price objective on shares of Regions Financial from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 25th. StockNews.com began coverage on shares of Regions Financial in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Robert W. Baird restated a “neutral” rating and issued a $23.00 price objective on shares of Regions Financial in a research note on Wednesday, August 3rd. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.50.

Regions Financial Profile

(Get Rating)

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. 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; 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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