Regions Financial Corporation (NYSE:RF) Shares Acquired by Grove Bank & Trust

Grove Bank & Trust lifted its position in Regions Financial Corporation (NYSE:RF) by 76.6% during the first quarter, HoldingsChannel.com reports. The fund owned 1,876 shares of the bank’s stock after acquiring an additional 814 shares during the period. Grove Bank & Trust’s holdings in Regions Financial were worth $41,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new position in Regions Financial in the 4th quarter valued at $28,000. Picton Mahoney Asset Management raised its position in shares of 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 buying an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Regions Financial in the fourth quarter worth about $32,000. Allworth Financial LP boosted its position in Regions Financial by 36.4% during the fourth quarter. Allworth Financial LP now owns 2,560 shares of the bank’s stock worth $62,000 after acquiring an additional 683 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in Regions Financial by 181.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank’s stock worth $76,000 after acquiring an additional 2,078 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Price Performance

Shares of RF opened at $21.95 on Thursday. The firm has a 50-day simple moving average of $21.06 and a two-hundred day simple moving average of $22.54. The stock has a market cap of $19.73 billion, a PE ratio of 10.55, a P/E/G ratio of 1.71 and a beta of 0.96. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. During the same quarter last year, the firm earned $0.37 EPS. As a group, analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. Regions Financial’s payout ratio is presently 48.08%.

Analysts Set New Price Targets

A number of research firms have commented on RF. Wells Fargo & Company cut their price objective on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Stephens reiterated an “overweight” rating and set a $24.00 price objective on shares of Regions Financial in a research report on Tuesday, June 3rd. Barclays lowered their price objective on Regions Financial from $26.00 to $24.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, JPMorgan Chase & Co. reduced their price target on Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.80.

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.