Simmons Bank Lowers Stake in Regions Financial Co. (NYSE:RF)

Simmons Bank cut its position in Regions Financial Co. (NYSE:RF) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RF. Chase Investment Counsel Corp boosted its holdings in Regions Financial by 5.7% in the 3rd quarter. Chase Investment Counsel Corp now owns 13,551 shares of the bank’s stock worth $316,000 after buying an additional 733 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of Regions Financial by 87.1% in the third quarter. Aptus Capital Advisors LLC now owns 67,634 shares of the bank’s stock worth $1,578,000 after acquiring an additional 31,478 shares during the period. Apollon Wealth Management LLC grew its position in shares of Regions Financial by 23.5% during the third quarter. Apollon Wealth Management LLC now owns 20,287 shares of the bank’s stock worth $473,000 after purchasing an additional 3,863 shares in the last quarter. Versor Investments LP bought a new stake in Regions Financial during the 3rd quarter valued at approximately $350,000. Finally, Venturi Wealth Management LLC lifted its holdings in Regions Financial by 413.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,708 shares of the bank’s stock worth $87,000 after purchasing an additional 2,986 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. DA Davidson increased their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup lifted their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Finally, Argus raised 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 research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.94.

Regions Financial Price Performance

RF stock opened at $26.09 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 12 month low of $15.49 and a 12 month high of $26.73. The stock has a market cap of $23.71 billion, a PE ratio of 14.74, a P/E/G ratio of 2.74 and a beta of 1.16. The company has a 50-day moving average price of $23.39 and a 200 day moving average price of $21.47.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.83%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is presently 56.50%.

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.