State of Alaska Department of Revenue lessened its position in Regions Financial Co. (NYSE:RF – Get 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 %
Regions Financial (NYSE:RF – Get 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
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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