Simmons Bank Sells 485 Shares of Regions Financial Co. (NYSE:RF)

Simmons Bank decreased its stake in shares of Regions Financial Co. (NYSE:RF) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,883 shares of the bank’s stock after selling 485 shares during the period. Simmons Bank’s holdings in Regions Financial were worth $487,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in shares of Regions Financial by 20.8% in the 1st quarter. Empowered Funds LLC now owns 54,856 shares of the bank’s stock valued at $1,154,000 after purchasing an additional 9,445 shares during the period. Sei Investments Co. grew its position in shares of Regions Financial by 1.3% in the 1st quarter. Sei Investments Co. now owns 471,222 shares of the bank’s stock worth $9,914,000 after buying an additional 5,962 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of Regions Financial in the 1st quarter worth about $287,000. Bleakley Financial Group LLC lifted its position in Regions Financial by 24.2% during the 1st quarter. Bleakley Financial Group LLC now owns 31,513 shares of the bank’s stock valued at $663,000 after acquiring an additional 6,144 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in Regions Financial by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,251,514 shares of the bank’s stock worth $26,332,000 after acquiring an additional 40,250 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Performance

Shares of RF opened at $26.09 on Thursday. Regions Financial Co. has a one year low of $15.49 and a one year high of $26.73. The business has a fifty day moving average of $23.39 and a 200 day moving average of $21.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market capitalization of $23.71 billion, a P/E ratio of 14.74, a PEG ratio of 2.74 and a beta of 1.16.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.1 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 56.50%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RF. Royal Bank of Canada boosted their price target on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Barclays increased their target price on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Wedbush upped their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.94.

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.