Regions Financial Co. (NYSE:RF) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,045 shares of the bank’s stock after selling 1,273 shares during the quarter. Prospera Financial Services Inc’s holdings in Regions Financial were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new position in shares of Regions Financial in the first quarter worth about $26,000. Quadrature Capital Ltd lifted its stake in shares of Regions Financial by 330.4% in the first quarter. Quadrature Capital Ltd now owns 68,032 shares of the bank’s stock worth $1,431,000 after acquiring an additional 52,226 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Regions Financial by 2.2% in the first quarter. 1832 Asset Management L.P. now owns 116,701 shares of the bank’s stock worth $2,455,000 after acquiring an additional 2,520 shares in the last quarter. Ascent Group LLC lifted its stake in shares of Regions Financial by 3.3% in the first quarter. Ascent Group LLC now owns 60,843 shares of the bank’s stock worth $1,280,000 after acquiring an additional 1,955 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Regions Financial in the first quarter worth about $2,281,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF stock opened at $27.28 on Friday. Regions Financial Co. has a 12-month low of $15.79 and a 12-month high of $27.32. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The business has a 50 day simple moving average of $24.05 and a 200 day simple moving average of $21.82. 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 issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.49 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Analysts Set New Price Targets

Several research firms recently commented on RF. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Citigroup upped their price objective on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Tuesday, October 29th. Finally, Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and an average price target of $26.41.

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.