OLD National Bancorp IN Sells 1,256 Shares of Regions Financial Co. (NYSE:RF)

OLD National Bancorp IN reduced its position in Regions Financial Co. (NYSE:RF) by 5.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,835 shares of the bank’s stock after selling 1,256 shares during the quarter. OLD National Bancorp IN’s holdings in Regions Financial were worth $404,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RF. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Regions Financial during the 3rd quarter valued at $26,000. Sound Income Strategies LLC increased its position in shares of Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares during the last quarter. HM Payson & Co. increased its position in shares of Regions Financial by 2,000.0% during the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,000 shares during the last quarter. West Paces Advisors Inc. increased its position in shares of Regions Financial by 277.2% during the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,752 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in Regions Financial by 69.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after acquiring an additional 1,000 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

NYSE:RF opened at $19.75 on Thursday. The firm has a market cap of $18.15 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The business has a 50 day moving average price of $19.39 and a 200-day moving average price of $18.06.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. Equities research analysts predict that Regions Financial Co. will post 1.95 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.86%. Regions Financial’s dividend payout ratio is presently 52.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays reissued an “underweight” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a report on Tuesday, January 2nd. Royal Bank of Canada lifted their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $22.00 in a report on Tuesday, January 9th. Finally, Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.17.

Insider Activity at Regions Financial

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at $968,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.