Pitcairn Co. Trims Stock Position in Regions Financial Co. (NYSE:RF)

Pitcairn Co. reduced its stake in Regions Financial Co. (NYSE:RF) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,905 shares of the bank’s stock after selling 1,876 shares during the quarter. Pitcairn Co.’s holdings in Regions Financial were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. American National Bank & Trust increased its holdings in Regions Financial by 1,856.7% in the third 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. EntryPoint Capital LLC purchased a new position in Regions Financial in the 1st quarter valued at approximately $26,000. Quarry LP raised its holdings in 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 purchasing an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Regions Financial by 530.0% during the second 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 acquired a new stake in Regions Financial in the second quarter valued at $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Evercore ISI lifted their target price 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. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Barclays lifted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group increased their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and an average target price of $26.71.

Regions Financial Trading Down 0.6 %

Shares of RF stock opened at $27.30 on Wednesday. The firm’s 50-day simple moving average is $24.25 and its 200-day simple moving average is $21.96. 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 $15.79 and a 1-year high of $27.96. The firm has a market cap of $24.81 billion, a P/E ratio of 15.42, a PEG ratio of 2.83 and a beta of 1.16.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business earned $0.49 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Regions Financial Co. will post 2.12 EPS 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 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.