OLD National Bancorp IN Sells 1,256 Shares of Regions Financial Co. (NYSE:RF)

OLD National Bancorp IN trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,835 shares of the bank’s stock after selling 1,256 shares during the period. OLD National Bancorp IN’s holdings in Regions Financial were worth $404,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RF. AE Wealth Management LLC boosted its holdings in Regions Financial by 22.5% during the third quarter. AE Wealth Management LLC now owns 111,590 shares of the bank’s stock valued at $1,919,000 after acquiring an additional 20,470 shares during the period. IFP Advisors Inc lifted its stake in shares of Regions Financial by 52.2% in the third quarter. IFP Advisors Inc now owns 8,843 shares of the bank’s stock valued at $152,000 after buying an additional 3,033 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Regions Financial in the third quarter valued at about $185,000. Czech National Bank lifted its stake in shares of Regions Financial by 47.7% in the third quarter. Czech National Bank now owns 164,009 shares of the bank’s stock valued at $2,821,000 after buying an additional 52,932 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Regions Financial by 3.0% in the third quarter. Asset Management One Co. Ltd. now owns 384,153 shares of the bank’s stock valued at $6,607,000 after buying an additional 11,093 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

NYSE RF opened at $19.75 on Thursday. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.42 and a beta of 1.21. The company has a 50 day moving average of $19.39 and a 200-day moving average of $18.06. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $21.08.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS. On average, equities analysts forecast that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Royal Bank of Canada increased their target price on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Evercore ISI increased their target price on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods increased their target price on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Finally, Morgan Stanley dropped their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.17.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

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.