Allworth Financial LP Sells 3,364 Shares of Regions Financial Co. (NYSE:RF)

Allworth Financial LP decreased its holdings in Regions Financial Co. (NYSE:RF) by 64.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,877 shares of the bank’s stock after selling 3,364 shares during the quarter. Allworth Financial LP’s holdings in Regions Financial were worth $44,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RF. American National Bank & Trust grew its position 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 worth $27,000 after buying an additional 1,114 shares during the period. EntryPoint Capital LLC bought a new position in shares of Regions Financial during the 1st quarter worth about $26,000. Quarry LP boosted its position in shares of Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Regions Financial during the 2nd quarter worth about $32,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 1.3 %

Shares of RF stock opened at $23.56 on Friday. The company has a 50 day moving average of $23.09 and a 200-day moving average of $21.14. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 12-month low of $14.60 and a 12-month high of $24.47. The firm has a market cap of $21.56 billion, a P/E ratio of 13.31, a PEG ratio of 2.52 and a beta of 1.17.

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 the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. Sell-side analysts anticipate that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.24%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Analyst Ratings Changes

A number of research firms have recently issued reports on RF. The Goldman Sachs Group increased their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Company increased their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI increased their price objective 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. Barclays upped their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.45.

About Regions Financial

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.