Summit Investment Advisors Inc. Sells 782 Shares of Regions Financial Co. (NYSE:RF)

Summit Investment Advisors Inc. lessened its position in shares of Regions Financial Co. (NYSE:RF) by 8.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,856 shares of the bank’s stock after selling 782 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Regions Financial were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RF. Y.D. More Investments Ltd boosted its stake in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial during the 4th quarter valued at about $28,000. Picton Mahoney Asset Management increased its stake in Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,201 shares during the period. Millstone Evans Group LLC acquired a new position in Regions Financial in the fourth quarter worth about $32,000. Finally, Creative Capital Management Investments LLC bought a new position in Regions Financial during the fourth quarter worth about $44,000. 79.39% of the stock is currently owned by institutional investors.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RF has been the topic of several analyst reports. Stephens lowered their price objective on Regions Financial from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price target on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Morgan Stanley cut their price objective on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.53.

Regions Financial Price Performance

Shares of RF stock opened at $19.76 on Wednesday. The firm has a market cap of $17.89 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.93 and a beta of 1.01. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $21.41 and a 200 day moving average price of $23.52.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company earned $0.37 EPS. Research analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 48.08%.

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.