Mutual of America Capital Management LLC Sells 2,802 Shares of Regions Financial Co. (NYSE:RF)

Mutual of America Capital Management LLC lessened its holdings in Regions Financial Co. (NYSE:RF) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,692 shares of the bank’s stock after selling 2,802 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Regions Financial were worth $2,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank & Trust increased its stake in 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 acquiring an additional 1,114 shares during the period. EntryPoint Capital LLC bought a new position in shares of Regions Financial in the first quarter worth $26,000. Quarry LP raised its stake in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted 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 during the period. Finally, Innealta Capital LLC acquired a new stake in Regions Financial during the second quarter worth about $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE:RF opened at $27.28 on Friday. The company has a market capitalization of $24.79 billion, a PE ratio of 15.41, a P/E/G ratio of 2.77 and a beta of 1.16. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $27.32. 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 company has a 50 day simple moving average of $24.05 and a two-hundred day simple moving average of $21.82.

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 the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm earned $0.49 EPS. Regions Financial’s quarterly revenue was down 3.7% on a year-over-year basis. Research analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.67%. Regions Financial’s dividend payout ratio is currently 56.50%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RF shares. Citigroup increased their price target on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley lifted their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. Finally, Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

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.