National Pension Service Sells 24,949 Shares of Regions Financial Co. (NYSE:RF)

National Pension Service decreased its stake in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,600,668 shares of the bank’s stock after selling 24,949 shares during the quarter. National Pension Service owned 0.17% of Regions Financial worth $31,805,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CI Investments Inc. increased its holdings in shares of Regions Financial by 991.2% during the 3rd quarter. CI Investments Inc. now owns 1,244 shares of the bank’s stock worth $25,000 after purchasing an additional 1,130 shares during the period. SeaCrest Wealth Management LLC bought a new stake in Regions Financial in the second quarter valued at about $43,000. Parkside Financial Bank & Trust increased its stake in Regions Financial by 41.7% in the first quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank’s stock valued at $56,000 after acquiring an additional 737 shares during the period. Picton Mahoney Asset Management bought a new stake in Regions Financial in the third quarter valued at about $62,000. Finally, Alta Advisers Ltd bought a new stake in Regions Financial in the third quarter valued at about $68,000. Institutional investors own 72.87% of the company’s stock.

Regions Financial Price Performance

Shares of RF stock opened at $18.61 on Friday. Regions Financial Co. has a 1 year low of $13.94 and a 1 year high of $24.33. The firm’s 50 day moving average is $22.62 and its 200-day moving average is $21.97. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.72 and a beta of 1.22. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.16.

Regions Financial (NYSE:RF – Get Rating) last announced its quarterly earnings data on Friday, January 20th. The bank reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. Regions Financial had a net margin of 29.81% and a return on equity of 16.14%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.94 billion. Sell-side analysts forecast that Regions Financial Co. will post 2.57 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Friday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.80 annualized dividend and a yield of 4.30%. Regions Financial’s dividend payout ratio is currently 35.24%.

Analyst Upgrades and Downgrades

RF has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Regions Financial from $25.00 to $24.00 in a research note on Friday, January 6th. Raymond James cut shares of Regions Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Wells Fargo & Company cut shares of Regions Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Citigroup upped their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, February 17th. Finally, StockNews.com initiated coverage on shares of Regions Financial in a research note on Thursday. They set a “hold” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Activity at Regions Financial

In related news, EVP William D. Ritter sold 13,000 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $23.42, for a total value of $304,460.00. Following the transaction, the executive vice president now directly owns 24,344 shares in the company, valued at $570,136.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Regions Financial news, EVP C. Matthew Lusco sold 100,000 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $22.83, for a total value of $2,283,000.00. Following the sale, the executive vice president now directly owns 77,843 shares in the company, valued at $1,777,155.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William D. Ritter sold 13,000 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $23.42, for a total transaction of $304,460.00. Following the completion of the sale, the executive vice president now owns 24,344 shares in the company, valued at $570,136.48. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

About Regions Financial

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Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.