O Shaughnessy Asset Management LLC Boosts Holdings in Regions Financial Co. (NYSE:RF)

O Shaughnessy Asset Management LLC grew its stake in Regions Financial Co. (NYSE:RF) by 69.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 425,257 shares of the bank’s stock after purchasing an additional 174,169 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Regions Financial were worth $8,947,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RF. Whittier Trust Co. boosted its stake in Regions Financial by 16.5% during the 4th quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock worth $75,000 after purchasing an additional 549 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after purchasing an additional 551 shares in the last quarter. CWM LLC grew its position in shares of Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares during the last quarter. Finally, Signet Financial Management LLC lifted its position in Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RF shares. Bank of America upped their target price on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday. Evercore ISI cut their price objective on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Wells Fargo & Company lifted their target price on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods dropped their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, Citigroup lifted their price target on shares of Regions Financial from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.45.

Insider Activity

In related news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Regions Financial Trading Down 1.3 %

NYSE RF traded down $0.28 during trading on Wednesday, hitting $22.11. The stock had a trading volume of 8,047,290 shares, compared to its average volume of 8,224,020. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $20.25 billion, a PE ratio of 12.27, a PEG ratio of 2.53 and a beta of 1.18. The firm has a 50 day moving average price of $19.69 and a 200 day moving average price of $19.36. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $22.84.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. As a group, equities research analysts forecast that Regions Financial Co. will post 1.98 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.52%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is currently 52.17%.

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.