Regions Financial Co. (NYSE:RF) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC decreased its stake in shares of Regions Financial Co. (NYSE:RF) by 12.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,500 shares of the bank’s stock after selling 3,435 shares during the period. My Legacy Advisors LLC’s holdings in Regions Financial were worth $572,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RF. CWM LLC boosted its position in shares of Regions Financial by 1.1% in the 3rd quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after purchasing an additional 480 shares during the period. Resonant Capital Advisors LLC increased its stake in Regions Financial by 2.4% in the 3rd quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after purchasing an additional 506 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Regions Financial by 2.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock valued at $473,000 after buying an additional 545 shares during the last quarter. IFG Advisory LLC lifted its stake in shares of Regions Financial by 1.8% during the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after purchasing an additional 546 shares during the period. Finally, HB Wealth Management LLC raised its stake in Regions Financial by 0.6% during the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after purchasing an additional 551 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RF shares. Bank of America lifted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Wedbush raised their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. Evercore ISI lifted their price target on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.64.

Regions Financial Price Performance

Shares of NYSE:RF traded up $0.07 on Tuesday, hitting $23.70. The company’s stock had a trading volume of 2,860,439 shares, compared to its average volume of 7,917,940. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $24.47. The company has a market capitalization of $21.71 billion, a PE ratio of 12.88, a PEG ratio of 2.80 and a beta of 1.17. The company has a 50-day simple moving average of $22.70 and a 200 day simple moving average of $20.91.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business earned $0.49 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Co. will post 2.02 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 54.35%.

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.