Shell Asset Management Co. Trims Holdings in Regions Financial Corporation $RF

Shell Asset Management Co. decreased its position in shares of Regions Financial Corporation (NYSE:RF) by 66.9% during the third quarter, Holdings Channel.com reports. The fund owned 31,232 shares of the bank’s stock after selling 63,042 shares during the quarter. Shell Asset Management Co.’s holdings in Regions Financial were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC bought a new stake in shares of Regions Financial during the 3rd quarter valued at $304,000. Public Sector Pension Investment Board boosted its holdings in Regions Financial by 2.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 192,365 shares of the bank’s stock worth $5,073,000 after buying an additional 4,354 shares during the period. Illinois Municipal Retirement Fund increased its stake in Regions Financial by 9.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 244,424 shares of the bank’s stock worth $6,445,000 after buying an additional 21,821 shares in the last quarter. Plan A Wealth LLC raised its holdings in Regions Financial by 10.4% during the third quarter. Plan A Wealth LLC now owns 22,016 shares of the bank’s stock valued at $581,000 after acquiring an additional 2,073 shares during the period. Finally, Cibc World Market Inc. raised its holdings in Regions Financial by 347.2% during the third quarter. Cibc World Market Inc. now owns 111,135 shares of the bank’s stock valued at $2,931,000 after acquiring an additional 86,282 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Barclays lifted their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 price target on shares of Regions Financial in a report on Tuesday, January 6th. Finally, UBS Group reiterated a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $29.84.

Insider Buying and Selling

In related news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Regions Financial Trading Down 0.2%

Shares of NYSE RF opened at $29.73 on Tuesday. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $26.07 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.05 and a beta of 1.04. The business’s 50 day moving average price is $28.36 and its 200-day moving average price is $26.57.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm earned $0.56 EPS. Regions Financial’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a $0.265 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.6%. Regions Financial’s dividend payout ratio is presently 46.29%.

Regions Financial declared that its Board of Directors has approved a share buyback program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 12.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.