Regions Financial Co. (NYSE:RF) Shares Sold by Veritable L.P.

Veritable L.P. lowered its holdings in Regions Financial Co. (NYSE:RF) by 9.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 42,895 shares of the bank’s stock after selling 4,428 shares during the quarter. Veritable L.P.’s holdings in Regions Financial were worth $764,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aspire Private Capital LLC acquired a new position in Regions Financial in the first quarter worth approximately $11,024,640,000. Dark Forest Capital Management LP acquired a new position in shares of Regions Financial in the 1st quarter worth $26,000. Cullen Frost Bankers Inc. raised its position in shares of Regions Financial by 169.0% during the first quarter. Cullen Frost Bankers Inc. now owns 1,520 shares of the bank’s stock worth $28,000 after purchasing an additional 955 shares during the period. Spire Wealth Management lifted its holdings in shares of Regions Financial by 307.5% during the first quarter. Spire Wealth Management now owns 1,528 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Regions Financial by 715.1% in the 4th quarter. Harbour Investments Inc. now owns 1,891 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,659 shares during the period. 75.84% of the stock is owned by institutional investors and hedge funds.

Regions Financial Price Performance

NYSE RF opened at $16.41 on Friday. The company has a 50 day moving average price of $16.22 and a two-hundred day moving average price of $17.64. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $24.33. The stock has a market capitalization of $15.26 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.22. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.30.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.09). The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.89 billion. Regions Financial had a net margin of 26.39% and a return on equity of 15.86%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. As a group, equities analysts predict that Regions Financial Co. will post 2.2 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Thursday, December 7th. Regions Financial’s dividend payout ratio is 40.00%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Monday, October 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $16.50 price objective (down from $19.00) on shares of Regions Financial in a research report on Friday, October 27th. Wedbush lowered Regions Financial from an “outperform” rating to a “neutral” rating in a report on Friday, October 20th. Royal Bank of Canada decreased their target price on Regions Financial from $23.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, October 23rd. Finally, Stephens reissued an “equal weight” rating and set a $20.00 price target on shares of Regions Financial in a research report on Monday, August 7th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.