Regions Financial Co. (NYSE:RF) Shares Sold by Interval Partners LP

Interval Partners LP lowered its holdings in Regions Financial Co. (NYSE:RF) by 77.7% during the fourth quarter, Holdings Channel reports. The fund owned 282,154 shares of the bank’s stock after selling 985,370 shares during the quarter. Interval Partners LP’s holdings in Regions Financial were worth $6,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after purchasing an additional 1,396,647 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock valued at $540,284,000 after purchasing an additional 403,283 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Regions Financial by 7.7% in the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock valued at $401,097,000 after purchasing an additional 1,224,645 shares during the period. Invesco Ltd. boosted its holdings in Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock worth $363,823,000 after buying an additional 1,963,954 shares in the last quarter. Finally, Norges Bank purchased a new stake in Regions Financial during the fourth quarter worth $279,103,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE:RF opened at $21.16 on Monday. The company has a market cap of $19.02 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.93 and a beta of 0.97. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The company’s 50-day moving average price is $20.62 and its 200-day moving average price is $23.26. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, sell-side analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.73%. Regions Financial’s dividend payout ratio is presently 48.08%.

Analysts Set New Price Targets

RF has been the subject of a number of recent analyst reports. Citigroup cut their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 24th. The Goldman Sachs Group cut their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on Regions Financial from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Barclays dropped their price objective on Regions Financial from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. Finally, Stephens cut their price objective on Regions Financial from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and an average target price of $25.53.

Insider Buying and Selling

In other news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

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.