Cornercap Investment Counsel Inc. Trims Holdings in Regions Financial Co. (NYSE:RF)

Cornercap Investment Counsel Inc. trimmed its position in Regions Financial Co. (NYSE:RF) by 32.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,215 shares of the bank’s stock after selling 37,792 shares during the quarter. Regions Financial comprises 0.5% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 23rd largest position. Cornercap Investment Counsel Inc.’s holdings in Regions Financial were worth $1,801,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RF. EntryPoint Capital LLC acquired a new stake in Regions Financial in the first quarter valued at approximately $26,000. American National Bank & Trust grew its holdings in Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,114 shares during the period. Quarry LP grew its holdings in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Regions Financial in the second quarter valued at approximately $32,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RF shares. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Bank of America lifted their price target on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Wedbush lifted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. Finally, Citigroup lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.94.

Regions Financial Stock Up 0.6 %

Shares of NYSE RF opened at $26.26 on Friday. The stock has a market cap of $23.87 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 52-week low of $15.79 and a 52-week high of $26.73. The business has a 50-day moving average price of $23.46 and a 200 day moving average price of $21.50.

Regions Financial (NYSE:RF) last issued its earnings results 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). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the company posted $0.49 earnings per share. Equities research analysts forecast that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared 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 dividend yield of 3.81%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 56.50%.

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.