Regions Financial Co. (NYSE:RF) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 11.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,905 shares of the bank’s stock after selling 1,876 shares during the quarter. Pitcairn Co.’s holdings in Regions Financial were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Cerity Partners LLC boosted its position in shares of Regions Financial by 9.7% during the 3rd quarter. Cerity Partners LLC now owns 483,032 shares of the bank’s stock worth $11,269,000 after purchasing an additional 42,520 shares during the period. Waddell & Associates LLC lifted its stake in Regions Financial by 13.6% during the third quarter. Waddell & Associates LLC now owns 35,461 shares of the bank’s stock worth $827,000 after purchasing an additional 4,241 shares in the last quarter. Citigroup Inc. boosted its position in shares of Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after buying an additional 253,708 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after buying an additional 816,226 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Regions Financial by 0.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after buying an additional 61,426 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

RF stock opened at $27.30 on Wednesday. The stock has a market cap of $24.81 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 2.83 and a beta of 1.16. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $24.25 and a 200 day moving average price of $21.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup raised their target price on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Evercore ISI lifted their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Thursday, October 24th. Morgan Stanley boosted their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Barclays increased their price objective on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

Regions Financial 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.