State of Alaska Department of Revenue Sells 54,070 Shares of Regions Financial Co. (NYSE:RF)

State of Alaska Department of Revenue lessened its position in Regions Financial Co. (NYSE:RFGet Rating) by 17.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 247,847 shares of the bank’s stock after selling 54,070 shares during the period. State of Alaska Department of Revenue’s holdings in Regions Financial were worth $4,646,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RF. Patten & Patten Inc. TN boosted its stake in shares of Regions Financial by 0.6% during the 1st quarter. Patten & Patten Inc. TN now owns 82,649 shares of the bank’s stock valued at $1,840,000 after purchasing an additional 497 shares in the last quarter. Callahan Advisors LLC boosted its stake in shares of Regions Financial by 1.7% during the 1st quarter. Callahan Advisors LLC now owns 30,650 shares of the bank’s stock valued at $682,000 after purchasing an additional 500 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Regions Financial by 1.7% during the 4th quarter. Wetherby Asset Management Inc. now owns 30,647 shares of the bank’s stock valued at $668,000 after purchasing an additional 527 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Regions Financial by 3.0% during the 1st quarter. Savant Capital LLC now owns 19,468 shares of the bank’s stock valued at $433,000 after purchasing an additional 563 shares in the last quarter. Finally, Twin Lakes Capital Management LLC boosted its stake in shares of Regions Financial by 2.5% during the 1st quarter. Twin Lakes Capital Management LLC now owns 24,942 shares of the bank’s stock valued at $555,000 after purchasing an additional 598 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RF shares. Raymond James raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research note on Thursday, July 7th. The Goldman Sachs Group lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, May 31st. Keefe, Bruyette & Woods raised shares of Regions Financial from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $24.00 to $26.00 in a research report on Thursday, June 2nd. Wolfe Research lowered their price target on shares of Regions Financial from $24.00 to $20.00 and set a “peer perform” rating for the company in a research report on Thursday, May 26th. Finally, Citigroup cut shares of Regions Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $20.00 in a research report on Tuesday, July 12th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and a consensus target price of $24.79.

Regions Financial Stock Down 0.2 %

Shares of Regions Financial stock opened at $22.19 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $20.73 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.26. 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 simple moving average of $21.49 and a two-hundred day simple moving average of $21.12.

Regions Financial (NYSE:RFGet Rating) last announced its quarterly earnings results on Friday, July 22nd. The bank reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Regions Financial had a net margin of 32.85% and a return on equity of 14.07%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business posted $0.77 earnings per share. On average, analysts anticipate that Regions Financial Co. will post 2.35 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a $0.20 dividend. The ex-dividend date is Thursday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.61%. Regions Financial’s payout ratio is currently 36.04%.

Regions Financial Company 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.

Further Reading

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Co. (NYSE:RFGet Rating).

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

Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.