Bank of New York Mellon Corp Has $140.11 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Bank of New York Mellon Corp cut its holdings in shares of Regions Financial Co. (NYSE:RF) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,957,241 shares of the bank’s stock after selling 269,658 shares during the period. Bank of New York Mellon Corp’s holdings in Regions Financial were worth $140,114,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. boosted its position in Regions Financial by 20.0% during the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after buying an additional 253,708 shares during the period. Aprio Wealth Management LLC acquired a new stake in Regions Financial during the 4th quarter worth approximately $1,247,000. Nordea Investment Management AB lifted its position in shares of Regions Financial by 60.4% in the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after purchasing an additional 99,115 shares during the period. Commerce Bank lifted its position in shares of Regions Financial by 392.5% in the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after purchasing an additional 197,900 shares during the period. Finally, Vest Financial LLC lifted its position in shares of Regions Financial by 20.4% in the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock worth $34,806,000 after purchasing an additional 250,729 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Performance

Shares of RF stock opened at $23.71 on Friday. The firm has a market capitalization of $21.47 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The firm has a fifty day simple moving average of $24.06 and a two-hundred day simple moving average of $24.00. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. Regions Financial’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. Analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.22%. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup boosted 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, November 21st. Compass Point boosted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their price target on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Barclays boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and an average target price of $27.67.

Regions Financial Company 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.