Regions Financial Co. (NYSE:RF) Position Cut by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC trimmed its stake in Regions Financial Co. (NYSE:RF) by 5.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,249 shares of the bank’s stock after selling 1,164 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Regions Financial were worth $361,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RF. Yousif Capital Management LLC raised its stake in shares of Regions Financial by 0.8% during the first quarter. Yousif Capital Management LLC now owns 149,877 shares of the bank’s stock valued at $3,336,000 after purchasing an additional 1,249 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Regions Financial by 23.5% during the first quarter. Vontobel Holding Ltd. now owns 24,426 shares of the bank’s stock valued at $553,000 after purchasing an additional 4,648 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Regions Financial by 929.9% during the first quarter. Allianz Asset Management GmbH now owns 1,070,728 shares of the bank’s stock valued at $23,834,000 after purchasing an additional 966,768 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Regions Financial by 44.7% during the first quarter. Brown Brothers Harriman & Co. now owns 15,715 shares of the bank’s stock valued at $350,000 after purchasing an additional 4,852 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Regions Financial by 41.7% during the first quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank’s stock valued at $56,000 after purchasing an additional 737 shares in the last quarter. 75.84% of the stock is currently owned by institutional investors.

Regions Financial Stock Up 2.1 %

Shares of Regions Financial stock opened at $16.41 on Friday. The firm has a market cap of $15.26 billion, a price-to-earnings ratio of 6.84, a P/E/G ratio of 1.05 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $24.33. The stock has a 50-day simple moving average of $16.19 and a 200-day simple moving average of $17.63.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 20th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.09). The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.89 billion. Regions Financial had a return on equity of 15.86% and a net margin of 26.39%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share. On average, equities research analysts expect that Regions Financial Co. will post 2.2 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.85%. The ex-dividend date of this dividend is Thursday, December 7th. Regions Financial’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays cut their price objective on shares of Regions Financial from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Bank of America lowered their target price on Regions Financial from $21.00 to $18.00 in a report on Tuesday, October 10th. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a report on Tuesday. DA Davidson lifted their target price on Regions Financial from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Finally, Wedbush lowered Regions Financial from an “outperform” rating to a “neutral” rating in a report on Friday, October 20th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average target price of $19.23.

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.