MAI Capital Management Decreases Stake in Regions Financial Co. (NYSE:RF)

MAI Capital Management lowered its position in Regions Financial Co. (NYSE:RF) by 18.3% in the third quarter, Holdings Channel reports. The fund owned 30,004 shares of the bank’s stock after selling 6,703 shares during the period. MAI Capital Management’s holdings in Regions Financial were worth $700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new position in Regions Financial in the 1st quarter valued at $26,000. American National Bank & Trust boosted its position in shares of Regions Financial by 1,856.7% in 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 in the last quarter. Quarry LP boosted its position in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying 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% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after buying an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Regions Financial in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Barclays boosted their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. Finally, Citigroup upped their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.41.

Regions Financial Price Performance

Shares of RF stock opened at $27.29 on Friday. The stock has a 50-day moving average price of $23.95 and a 200 day moving average price of $21.77. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The firm has a market cap of $24.80 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 2.72 and a beta of 1.16. Regions Financial Co. has a 12 month low of $15.79 and a 12 month high of $27.32.

Regions Financial (NYSE:RF) last posted its 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). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Regions Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts expect that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 56.50%.

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.