Lynch & Associates IN lowered its position in shares of Regions Financial Co. (NYSE:RF) by 11.2% in the first quarter, HoldingsChannel reports. The fund owned 22,322 shares of the bank’s stock after selling 2,825 shares during the period. Lynch & Associates IN’s holdings in Regions Financial were worth $461,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Vantage Consulting Group Inc acquired a new stake in shares of Regions Financial in the 4th quarter valued at approximately $27,000. Smith Asset Management Group LP acquired a new stake in shares of Regions Financial in the 4th quarter valued at approximately $28,000. Annapolis Financial Services LLC acquired a new stake in shares of Regions Financial in the 4th quarter valued at approximately $32,000. NEXT Financial Group Inc boosted its holdings in shares of Regions Financial by 102.1% in the 4th quarter. NEXT Financial Group Inc now owns 2,379 shares of the bank’s stock valued at $38,000 after buying an additional 1,202 shares during the last quarter. Finally, Liberty Wealth Management LLC boosted its holdings in shares of Regions Financial by 96.1% in the 4th quarter. Liberty Wealth Management LLC now owns 2,324 shares of the bank’s stock valued at $40,000 after buying an additional 1,139 shares during the last quarter. 71.67% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on RF shares. Barclays increased their price objective on Regions Financial from $18.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday. Raymond James downgraded Regions Financial from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $21.00 to $23.00 in a report on Wednesday. Robert W. Baird downgraded Regions Financial from an “outperform” rating to a “neutral” rating and set a $17.00 price target for the company. in a report on Thursday, January 7th. Jefferies Financial Group raised their price target on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday. Finally, Credit Suisse Group raised their price target on Regions Financial from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, January 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.47.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 22nd. The bank reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.20. Regions Financial had a return on equity of 5.61% and a net margin of 13.17%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Equities research analysts forecast that Regions Financial Co. will post 0.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Friday, March 5th were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Thursday, March 4th. Regions Financial’s payout ratio is currently 40.00%.
In related news, COO John B. Owen sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $17.73, for a total value of $1,329,750.00. Following the sale, the chief operating officer now directly owns 70,187 shares of the company’s stock, valued at $1,244,415.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald G. Smith sold 56,147 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $20.23, for a total value of $1,135,853.81. Following the completion of the sale, the executive vice president now directly owns 219,667 shares in the company, valued at $4,443,863.41. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.
About Regions Financial
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.
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