ASR Vermogensbeheer N.V. Reduces Stake in Regions Financial Corporation $RF

ASR Vermogensbeheer N.V. lowered its position in Regions Financial Corporation (NYSE:RF) by 0.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 214,982 shares of the bank’s stock after selling 819 shares during the period. ASR Vermogensbeheer N.V.’s holdings in Regions Financial were worth $5,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Foster Victor Wealth Advisors LLC increased its holdings in Regions Financial by 5.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank’s stock valued at $6,606,000 after acquiring an additional 15,652 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Regions Financial by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock worth $52,762,000 after purchasing an additional 21,169 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Regions Financial by 13.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock worth $3,424,000 after purchasing an additional 18,684 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of Regions Financial by 62.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock worth $440,000 after purchasing an additional 7,822 shares in the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Regions Financial during the 1st quarter worth approximately $272,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RF. Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Citigroup raised their price target on Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Evercore ISI lifted their price objective on Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Tuesday. Cantor Fitzgerald assumed coverage on Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Regions Financial in a research report on Saturday, September 27th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Regions Financial Price Performance

Shares of NYSE:RF opened at $26.36 on Friday. The company has a market cap of $23.52 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.50 and a beta of 1.02. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The business has a fifty day simple moving average of $26.34 and a 200-day simple moving average of $23.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.0%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, September 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 49.30%.

Insider Activity at Regions Financial

In other news, Director Roger W. Jenkins acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This represents a 167.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the sale, the executive vice president owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

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.