Highland Capital Management LLC Sells 900 Shares of Regions Financial Co. (NYSE:RF)

Highland Capital Management LLC lessened its holdings in Regions Financial Co. (NYSE:RF) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,600 shares of the bank’s stock after selling 900 shares during the quarter. Highland Capital Management LLC’s holdings in Regions Financial were worth $814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RF. Norges Bank bought a new stake in shares of Regions Financial in the fourth quarter valued at $210,379,000. Cincinnati Insurance Co. bought a new position in shares of Regions Financial in the first quarter valued at approximately $74,606,000. Vanguard Group Inc. increased its holdings in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares during the period. Wellington Management Group LLP boosted its holdings in Regions Financial by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Regions Financial in the 1st quarter valued at $33,829,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Up 2.9 %

Shares of NYSE RF traded up $0.65 during trading hours on Friday, hitting $22.81. The company’s stock had a trading volume of 10,817,689 shares, compared to its average volume of 8,055,935. The business has a 50-day simple moving average of $20.83 and a 200-day simple moving average of $19.83. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 2.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $22.99.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business’s revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.38%. Regions Financial’s dividend payout ratio is 54.35%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Bank of America raised their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their target price on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Citigroup lifted their price target on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley upped their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $21.51.

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.