Nordea Investment Management AB Boosts Stock Position in Regions Financial Co. (NYSE:RF)

Nordea Investment Management AB grew its holdings in Regions Financial Co. (NYSE:RFFree Report) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,300 shares of the bank’s stock after buying an additional 7,347 shares during the quarter. Nordea Investment Management AB’s holdings in Regions Financial were worth $3,334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Laurel Wealth Advisors LLC increased its position in shares of Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after purchasing an additional 649 shares in the last quarter. MV Capital Management Inc. increased its position in shares of Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Regions Financial during the fourth quarter worth approximately $28,000. Sound Income Strategies LLC increased its position in shares of Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after purchasing an additional 750 shares in the last quarter. Finally, Glassman Wealth Services increased its position in shares of Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after purchasing an additional 967 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William C. Rhodes III purchased 50,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at $968,500. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on RF. Jefferies Financial Group boosted their price target on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Morgan Stanley lowered their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Keefe, Bruyette & Woods lowered their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday. Evercore ISI lowered their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Finally, StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.39.

Check Out Our Latest Stock Analysis on Regions Financial

Regions Financial Price Performance

RF opened at $20.19 on Thursday. The stock’s 50-day moving average price is $19.36 and its 200 day moving average price is $19.21. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a market cap of $18.49 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 2.16 and a beta of 1.18.

Regions Financial (NYSE:RFGet Free Report) last posted its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company posted $0.62 EPS. Regions Financial’s revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts expect that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.76%. The ex-dividend date was Monday, June 3rd. Regions Financial’s payout ratio is 52.17%.

About Regions Financial

(Free Report)

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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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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