Covestor Ltd Reduces Stock Holdings in Regions Financial Co. (NYSE:RF)

Covestor Ltd lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 17.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,802 shares of the bank’s stock after selling 814 shares during the quarter. Covestor Ltd’s holdings in Regions Financial were worth $88,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RF. Empowered Funds LLC increased its position in Regions Financial by 20.8% during the first quarter. Empowered Funds LLC now owns 54,856 shares of the bank’s stock valued at $1,154,000 after acquiring an additional 9,445 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Regions Financial by 1.3% during the 1st quarter. Sei Investments Co. now owns 471,222 shares of the bank’s stock worth $9,914,000 after purchasing an additional 5,962 shares during the period. Avantax Advisory Services Inc. bought a new position in Regions Financial during the 1st quarter valued at about $287,000. Bleakley Financial Group LLC raised its position in Regions Financial by 24.2% in the 1st quarter. Bleakley Financial Group LLC now owns 31,513 shares of the bank’s stock worth $663,000 after purchasing an additional 6,144 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in Regions Financial by 3.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 1,251,514 shares of the bank’s stock worth $26,332,000 after purchasing an additional 40,250 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RF has been the topic of a number of analyst reports. Barclays upped their target price on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Bank of America upped their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Wells Fargo & Company lifted their target price on Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI upped their price target on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.94.

Regions Financial Price Performance

NYSE RF opened at $26.09 on Thursday. The company has a market cap of $23.71 billion, a PE ratio of 14.74, a P/E/G ratio of 2.74 and a beta of 1.16. Regions Financial Co. has a 52-week low of $15.49 and a 52-week high of $26.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50 day moving average price is $23.39 and its 200-day moving average price is $21.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. Sell-side analysts forecast that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.83%. Regions Financial’s dividend payout ratio is presently 56.50%.

Regions Financial Company Profile

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.