Regions Financial Co. (NYSE:RF) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its holdings in Regions Financial Co. (NYSE:RF) by 67.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,839 shares of the bank’s stock after selling 97,865 shares during the period. Raymond James Trust N.A.’s holdings in Regions Financial were worth $1,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American National Bank & Trust grew its position in Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial during the 1st quarter valued at about $26,000. Quarry LP increased its stake in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares during the period. Finally, Innealta Capital LLC purchased a new position in Regions Financial during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $27.28 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The company’s 50 day simple moving average is $24.05 and its 200-day simple moving average is $21.84. Regions Financial Co. has a 1 year low of $15.79 and a 1 year high of $27.32.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. As a group, equities research analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.67%. Regions Financial’s dividend payout ratio is presently 56.50%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wedbush upped their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Citigroup boosted their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Finally, Barclays boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and an average target price of $26.41.

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.