Chevy Chase Trust Holdings LLC Lowers Position in Regions Financial Corporation $RF

Chevy Chase Trust Holdings LLC lessened its stake in Regions Financial Corporation (NYSE:RF) by 0.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 551,676 shares of the bank’s stock after selling 2,676 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Regions Financial worth $12,975,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RF. Hardy Reed LLC increased its position in Regions Financial by 1.6% in the second quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock worth $606,000 after purchasing an additional 404 shares during the last quarter. Greenwood Capital Associates LLC increased its position in Regions Financial by 0.6% in the second quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock worth $1,703,000 after purchasing an additional 427 shares during the last quarter. IFG Advisory LLC increased its position in Regions Financial by 0.9% in the first quarter. IFG Advisory LLC now owns 52,531 shares of the bank’s stock worth $1,142,000 after purchasing an additional 470 shares during the last quarter. Signet Financial Management LLC increased its position in Regions Financial by 4.6% in the second quarter. Signet Financial Management LLC now owns 10,896 shares of the bank’s stock worth $256,000 after purchasing an additional 483 shares during the last quarter. Finally, Master S Wealth Management Inc. increased its position in Regions Financial by 1.2% in the second quarter. Master S Wealth Management Inc. now owns 40,303 shares of the bank’s stock worth $948,000 after purchasing an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 0.8%

NYSE:RF opened at $23.54 on Monday. The firm has a market cap of $21.00 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.12 and a beta of 1.02. The company has a 50-day moving average of $26.23 and a 200 day moving average of $23.71. 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 0.27, a current ratio of 0.82 and a quick ratio of 0.81.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. The business had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. As a group, research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial’s dividend payout ratio is presently 49.30%.

Insider Activity

In other news, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the transaction, the executive vice president owned 90,915 shares in the company, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Roger W. Jenkins acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. This represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RF shares. Wall Street Zen upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Barclays reiterated an “underweight” rating and set a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Evercore ISI boosted their price objective on shares of Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Cantor Fitzgerald started coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, DA Davidson lifted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.79.

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.