Capital Wealth Planning LLC Sells 5,308 Shares of Regions Financial Co. (NYSE:RF)

Capital Wealth Planning LLC cut its holdings in Regions Financial Co. (NYSE:RF) by 26.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,000 shares of the bank’s stock after selling 5,308 shares during the period. Capital Wealth Planning LLC’s holdings in Regions Financial were worth $301,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in RF. Brown Brothers Harriman & Co. increased its position in shares of Regions Financial by 70.3% in the second quarter. Brown Brothers Harriman & Co. now owns 35,111 shares of the bank’s stock valued at $704,000 after acquiring an additional 14,499 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Regions Financial by 180.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 46,781 shares of the bank’s stock worth $937,000 after purchasing an additional 30,122 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Regions Financial by 32.0% during the 2nd quarter. HBK Sorce Advisory LLC now owns 19,902 shares of the bank’s stock worth $399,000 after purchasing an additional 4,827 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Regions Financial by 1.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 158,250 shares of the bank’s stock valued at $3,171,000 after buying an additional 2,211 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Regions Financial by 17.2% in the second quarter. Meeder Advisory Services Inc. now owns 15,127 shares of the bank’s stock valued at $303,000 after buying an additional 2,220 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group lifted their price target on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wells Fargo & Company upped their price objective on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Bank of America lifted their target price on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.51.

Regions Financial Stock Up 0.2 %

Shares of RF opened at $21.97 on Monday. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 2.82 and a beta of 1.17. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $23.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a fifty day moving average of $21.82 and a 200-day moving average of $20.29.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.55%. Regions Financial’s payout ratio is currently 54.35%.

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.