Regions Financial Co. (NYSE:RF) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in shares of Regions Financial Co. (NYSE:RF) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,665,864 shares of the bank’s stock after selling 521,872 shares during the quarter. Bank of America Corp DE owned 0.40% of Regions Financial worth $86,221,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Y.D. More Investments Ltd grew its position in shares of Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after buying an additional 634 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at $28,000. Picton Mahoney Asset Management grew its position in shares of Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after buying an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at $32,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at $44,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on RF. Keefe, Bruyette & Woods lowered their price objective on shares of Regions Financial from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Stephens lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company lowered their price objective on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Citigroup lowered their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.53.

Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. The trade was a 15.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Regions Financial Stock Performance

Shares of RF opened at $21.16 on Monday. The firm’s 50 day moving average is $20.62 and its 200-day moving average is $23.26. The stock has a market capitalization of $19.02 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same period last year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Monday, June 2nd. Regions Financial’s dividend payout ratio is currently 48.08%.

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.