Regions Financial Co. (NYSE:RF) Stake Lessened by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 31.4% during the third quarter, HoldingsChannel reports. The fund owned 180,105 shares of the bank’s stock after selling 82,265 shares during the quarter. Amalgamated Bank’s holdings in Regions Financial were worth $4,202,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its stake in Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock worth $581,000 after purchasing an additional 429 shares in the last quarter. CWM LLC increased its holdings 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 acquiring an additional 480 shares during the last quarter. Resonant Capital Advisors LLC raised its position in shares of Regions Financial by 2.4% during the 3rd quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after acquiring an additional 506 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Regions Financial by 2.8% during the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock worth $473,000 after purchasing an additional 545 shares during the last quarter. Finally, IFG Advisory LLC boosted its holdings in Regions Financial by 1.8% in the second 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. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RF shares. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Wells Fargo & Company lifted their target price on Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. The Goldman Sachs Group increased their price target on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Morgan Stanley boosted their price objective on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI increased their target price on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.45.

Regions Financial Stock Performance

Shares of NYSE RF opened at $25.63 on Friday. Regions Financial Co. has a 1 year low of $14.86 and a 1 year high of $26.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a fifty day moving average price of $23.27 and a two-hundred day moving average price of $21.35. The firm has a market cap of $23.29 billion, a P/E ratio of 14.48, a PEG ratio of 2.45 and a beta of 1.16.

Regions Financial (NYSE:RF) last released its 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 return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. Regions Financial’s revenue was down 3.7% on a year-over-year basis. Research analysts forecast that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 56.50%.

Regions Financial Company 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.