Mainsail Asset Management LLC Has $205,000 Stock Holdings in Regions Financial Corporation $RF

Mainsail Asset Management LLC lessened its holdings in Regions Financial Corporation (NYSE:RF) by 9.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,728 shares of the bank’s stock after selling 875 shares during the period. Mainsail Asset Management LLC’s holdings in Regions Financial were worth $205,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RF. American National Bank & Trust increased its holdings in shares of Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares in the last quarter. Bayforest Capital Ltd increased its holdings in shares of Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after buying an additional 1,058 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Regions Financial during the first quarter worth approximately $36,000. Groupe la Francaise acquired a new stake in shares of Regions Financial during the first quarter worth approximately $41,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Regions Financial during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $25.75 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $22.97 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.48 and a beta of 1.02. The firm has a 50 day simple moving average of $26.32 and a 200 day simple moving average of $23.54. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. Regions Financial’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. Sell-side analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.1%. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s dividend payout ratio (DPR) is presently 49.30%.

Insiders Place Their Bets

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger W. Jenkins bought 4,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the acquisition, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on RF shares. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Cantor Fitzgerald started coverage on shares of Regions Financial in a report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective for the company. Morgan Stanley set a $32.00 price objective on shares of Regions Financial in a report on Monday, September 29th. DA Davidson raised their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, Stephens raised their price objective on shares of Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.89.

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.