Alaska Permanent Fund Corp Boosts Stock Position in Regions Financial Co. (NYSE:RF)

Alaska Permanent Fund Corp grew its stake in shares of Regions Financial Co. (NYSE:RF) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,456 shares of the bank’s stock after purchasing an additional 1,256 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Regions Financial were worth $2,470,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RF. Sound Income Strategies LLC increased its holdings in shares of Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after acquiring an additional 750 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in Regions Financial in the 3rd quarter worth approximately $26,000. HM Payson & Co. lifted its position in shares of Regions Financial by 2,000.0% during the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after buying an additional 2,000 shares in the last quarter. West Paces Advisors Inc. lifted its position in shares of Regions Financial by 277.2% during the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after buying an additional 1,752 shares in the last quarter. Finally, Baker Avenue Asset Management LP lifted its position in shares of Regions Financial by 69.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock valued at $42,000 after buying an additional 1,000 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on RF. Evercore ISI increased their price target on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Argus lowered Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Morgan Stanley decreased their price target on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.17.

Regions Financial Stock Performance

RF traded down $0.37 on Thursday, hitting $19.40. 1,461,216 shares of the stock traded hands, compared to its average volume of 8,734,497. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $17.83 billion, a PE ratio of 10.73, a P/E/G ratio of 1.42 and a beta of 1.21. The business has a fifty day moving average price of $19.39 and a two-hundred day moving average price of $18.06.

Regions Financial (NYSE:RF) last released 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, research analysts predict that Regions Financial Co. will post 1.95 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.95%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio is 52.17%.

Insiders Place Their Bets

In related news, Director William C. Rhodes III purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

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.