Russell Investments Group Ltd. Lowers Position in Regions Financial Co. (NYSE:RF)

Russell Investments Group Ltd. trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,638,130 shares of the bank’s stock after selling 96,892 shares during the quarter. Russell Investments Group Ltd.’s holdings in Regions Financial were worth $62,068,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd increased its holdings in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at about $28,000. Picton Mahoney Asset Management raised its holdings in Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after purchasing an additional 1,201 shares during the period. Millstone Evans Group LLC purchased a new position in Regions Financial during the fourth quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Regions Financial in the third quarter valued at approximately $37,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RF. Citigroup decreased their target price on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company decreased their price objective on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. cut their target price on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday. Compass Point raised their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays boosted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.95.

Regions Financial Price Performance

Regions Financial stock opened at $18.64 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $22.88 and a 200 day moving average price of $23.89. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The stock has a market cap of $16.88 billion, a P/E ratio of 9.61, a PEG ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion for 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%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. Sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 3,868 shares of company stock valued at $86,722 over the last 90 days. 0.29% of the stock is owned by insiders.

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.