Salem Investment Counselors Inc. Sells 6,098 Shares of Regions Financial Co. (NYSE:RF)

Salem Investment Counselors Inc. decreased its holdings in shares of Regions Financial Co. (NYSE:RF) by 65.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,263 shares of the bank’s stock after selling 6,098 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Regions Financial were worth $78,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RF. Quarry LP lifted its holdings in Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares during the period. CWM LLC raised its position in shares of Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after purchasing an additional 480 shares during the period. Resonant Capital Advisors LLC lifted its stake 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 worth $515,000 after buying an additional 506 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in shares of Regions Financial by 5.9% during the 3rd quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock worth $228,000 after buying an additional 540 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Up 1.7 %

NYSE RF opened at $24.01 on Wednesday. The business has a fifty day moving average price of $25.19 and a two-hundred day moving average price of $23.32. The stock has a market capitalization of $21.82 billion, a PE ratio of 13.57, a PEG ratio of 2.61 and a beta of 1.21. Regions Financial Co. has a fifty-two week low of $17.42 and a fifty-two week high of $27.96. 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 (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share 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 business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. Regions Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on RF shares. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, October 24th. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. The Goldman Sachs Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Wedbush increased their price objective on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Evercore ISI boosted their target price on shares of Regions Financial from $24.50 to $26.00 and gave the company 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 given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.67.

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.