BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Holdings in Regions Financial Co. (NYSE:RF)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,805 shares of the bank’s stock after selling 23,190 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Regions Financial were worth $3,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. American National Bank & Trust lifted its stake in shares of Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares in the last quarter. Quarry LP lifted its position in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares during the period. Innealta Capital LLC purchased a new position in shares of Regions Financial in the second quarter valued at $32,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Regions Financial during the 2nd quarter valued at $33,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on RF shares. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Citigroup boosted their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company boosted their target price on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.18.

Regions Financial Trading Down 0.7 %

Shares of RF stock opened at $26.35 on Wednesday. The business has a 50-day moving average of $24.65 and a 200 day moving average of $22.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $16.86 and a 1-year high of $27.96. The stock has a market capitalization of $23.94 billion, a PE ratio of 14.88, a P/E/G ratio of 2.75 and a beta of 1.19.

Regions Financial (NYSE:RF) last announced 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). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.80%. Regions Financial’s payout ratio is currently 56.50%.

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.