Creative Planning cut its holdings in shares of Regions Financial Co. (NYSE:RF – Free Report) by 1.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,642 shares of the bank’s stock after selling 2,566 shares during the period. Creative Planning’s holdings in Regions Financial were worth $2,702,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Yousif Capital Management LLC raised its holdings 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 worth $3,336,000 after purchasing an additional 1,249 shares during the last quarter. Vontobel Holding Ltd. raised its holdings 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 worth $553,000 after purchasing an additional 4,648 shares during the last quarter. Allianz Asset Management GmbH raised its holdings 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 worth $23,834,000 after purchasing an additional 966,768 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings 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 worth $350,000 after purchasing an additional 4,852 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings 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 worth $56,000 after purchasing an additional 737 shares during the last quarter. 75.84% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
RF has been the subject of several recent research reports. The Goldman Sachs Group raised their target price on shares of Regions Financial from $20.00 to $22.50 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Wedbush restated an “outperform” rating and issued a $22.00 price target on shares of Regions Financial in a research report on Monday, July 24th. DA Davidson upped their price target on Regions Financial from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Bank of America lowered their price objective on Regions Financial from $21.00 to $18.00 in a research report on Tuesday. Finally, StockNews.com initiated coverage on Regions Financial in a research report on Thursday, October 5th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.24.
Regions Financial Stock Up 1.0 %
Shares of Regions Financial stock opened at $16.58 on Wednesday. The company has a fifty day moving average price of $18.41 and a 200 day moving average price of $18.21. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. Regions Financial Co. has a twelve month low of $13.94 and a twelve month high of $24.33. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19.
Regions Financial (NYSE:RF – Get Free Report) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. Regions Financial had a net margin of 26.86% and a return on equity of 16.54%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the company earned $0.59 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. Equities research analysts forecast that Regions Financial Co. will post 2.36 earnings per share for the current fiscal year.
Regions Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.79%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.20. Regions Financial’s payout ratio is currently 41.03%.
Insiders Place Their Bets
In other Regions Financial news, EVP Ronald G. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $20.93, for a total value of $209,300.00. Following the transaction, the executive vice president now owns 281,151 shares in the company, valued at approximately $5,884,490.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.
About Regions Financial
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.
Featured Stories
- Five stocks we like better than Regions Financial
- Trading Stocks: RSI and Why it’s Useful
- 5 Reasons Gilead Sciences is a Better Buy Than You Think
- How to Read Stock Charts for Beginners
- Jobs Are Going To The Construction Industry, Momentum Play Time
- How to Invest in Energy
- PepsiCo Q3 Strength Results In A Trend Following Buy Signal
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.
