Mutual of America Capital Management LLC Sells 3,169 Shares of Regions Financial Corporation (NYSE:RF)

Mutual of America Capital Management LLC reduced its position in Regions Financial Corporation (NYSE:RF) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,713 shares of the bank’s stock after selling 3,169 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Regions Financial were worth $2,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new position in Regions Financial in the fourth quarter valued at about $32,000. Rossby Financial LCC purchased a new position in Regions Financial in the first quarter valued at about $36,000. Grove Bank & Trust grew its stake in Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock valued at $41,000 after purchasing an additional 814 shares during the last quarter. Allworth Financial LP grew its stake in Regions Financial by 30.7% in the first quarter. Allworth Financial LP now owns 3,346 shares of the bank’s stock valued at $69,000 after purchasing an additional 786 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Regions Financial by 181.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank’s stock worth $76,000 after acquiring an additional 2,078 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RF shares. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. The Goldman Sachs Group decreased their target price on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lifted their target price on Regions Financial from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 3rd. Stephens reaffirmed an “overweight” rating and set a $24.00 target price on shares of Regions Financial in a report on Tuesday, June 3rd. Finally, Barclays decreased their target price on Regions Financial from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.15.

Regions Financial Price Performance

Shares of NYSE:RF opened at $26.00 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.36. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The business has a fifty day simple moving average of $22.78 and a 200 day simple moving average of $22.42. The firm has a market cap of $23.37 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.94 and a beta of 0.98.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. As a group, 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 will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s payout ratio is currently 48.08%.

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.