Regions Financial Corp (RF) : Convergence Investment Partners scooped up 181,169 additional shares in Regions Financial Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 645,057 shares of Regions Financial Corp which is valued at $5,953,876.Regions Financial Corp makes up approximately 0.78% of Convergence Investment Partners’s portfolio.
Other Hedge Funds, Including , Glenmede Trust Co Na reduced its stake in RF by selling 117,382 shares or 92.6% in the most recent quarter. The Hedge Fund company now holds 9,375 shares of RF which is valued at $88,031.First Citizens Bank Trust Co boosted its stake in RF in the latest quarter, The investment management firm added 327,601 additional shares and now holds a total of 759,102 shares of Regions Financial Corp which is valued at $6,960,965. Regions Financial Corp makes up approx 0.60% of First Citizens Bank Trust Co’s portfolio. Capital Fund Management S.a. sold out all of its stake in RF during the most recent quarter. The investment firm sold 22,652 shares of RF which is valued $206,133.Nisa Investment Advisors boosted its stake in RF in the latest quarter, The investment management firm added 67,676 additional shares and now holds a total of 438,041 shares of Regions Financial Corp which is valued at $4,012,456. Regions Financial Corp makes up approx 0.05% of Nisa Investment Advisors’s portfolio.
Regions Financial Corp opened for trading at $9.62 and hit $9.69 on the upside on Friday, eventually ending the session at $9.69, with a gain of 0.62% or 0.06 points. The heightened volatility saw the trading volume jump to 1,10,66,767 shares. Company has a market cap of $12,163 M.
On the company’s financial health, Regions Financial Corp reported $0.20 EPS for the quarter, based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus estimate of $0.20. The company had revenue of $1395.00 million for the quarter, compared to analysts expectations of $1380.55 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.20 EPS.
Investors should note that on Jul 14, 2016, Regions Financial Corp announced a cash dividend of $0.0650. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.
Many Wall Street Analysts have commented on Regions Financial Corp. Regions Financial Corp was Downgraded by Bernstein to ” Mkt Perform” on Aug 16, 2016. Company shares were Reiterated by UBS on Jul 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 9.50 from a previous price target of $9 .Regions Financial Corp was Downgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016.
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank an Alabama state-chartered commercial bank which is a member of the Federal Reserve System. The Company carries out its business in three segments: Corporate Bank Consumer Bank and Wealth Management. The Corporate Bank segment represents the Companys commercial banking functions including commercial and industrial commercial real estate and investor real estate lending. The Consumer Bank segment represents the Companys branch network including consumer banking products and services related to residential first mortgages home equity lines and loans and small business loans among others. The Wealth Management segment offers individuals businesses Governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.