My Legacy Advisors LLC Cuts Position in Regions Financial Co. (NYSE:RF)

My Legacy Advisors LLC lessened its holdings in Regions Financial Co. (NYSE:RF) by 12.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,500 shares of the bank’s stock after selling 3,435 shares during the period. My Legacy Advisors LLC’s holdings in Regions Financial were worth $572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its stake in Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after purchasing an additional 480 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in Regions Financial by 2.4% in the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after purchasing an additional 506 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Regions Financial by 2.8% in the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock valued at $473,000 after purchasing an additional 545 shares during the last quarter. IFG Advisory LLC lifted its stake in Regions Financial by 1.8% in the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock valued at $620,000 after purchasing an additional 546 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after purchasing an additional 551 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 0.3 %

RF stock traded up $0.07 during mid-day trading on Tuesday, reaching $23.70. The company had a trading volume of 2,860,439 shares, compared to its average volume of 7,917,940. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50 day moving average of $22.70 and a 200 day moving average of $20.91. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $24.47. The company has a market capitalization of $21.71 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. On average, equities analysts predict that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.22%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 54.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RF shares. Citigroup upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Barclays boosted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Monday. Morgan Stanley boosted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their target price on shares of Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday. Finally, StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.64.

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.