Basswood Capital Management L.L.C. Sells 463,408 Shares of Regions Financial Co. (NYSE:RF)

Basswood Capital Management L.L.C. trimmed its stake in Regions Financial Co. (NYSE:RF - Free Report) by 55.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366,312 shares of the bank's stock after selling 463,408 shares during the period. Basswood Capital Management L.L.C.'s holdings in Regions Financial were worth $8,546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. American National Bank & Trust boosted its position in shares of Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock valued at $27,000 after acquiring an additional 1,114 shares in the last quarter. Quarry LP boosted its position in shares of Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock valued at $27,000 after acquiring an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock valued at $30,000 after acquiring an additional 1,256 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Regions Financial during the 2nd quarter valued at about $32,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Regions Financial during the 2nd quarter valued at about $33,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on RF shares. Stephens upgraded shares of Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 target price on the stock in a research report on Tuesday, October 29th. Wells Fargo & Company boosted their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an "equal weight" rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from $24.00 to $26.00 in a research report on Thursday, October 24th. Barclays boosted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company an "underweight" rating in a research report on Monday, October 21st. Finally, Wedbush boosted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Regions Financial presently has an average rating of "Moderate Buy" and a consensus price target of $26.71.

Regions Financial Stock Performance

RF stock traded down $0.32 during trading hours on Monday, reaching $26.69. The stock had a trading volume of 3,633,396 shares, compared to its average volume of 7,887,832. The stock has a market capitalization of $24.26 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 2.82 and a beta of 1.16. The stock has a 50-day simple moving average of $24.50 and a 200 day simple moving average of $22.11. Regions Financial Co. has a fifty-two week low of $16.86 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share 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 analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. Analysts predict that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Monday, December 2nd. Regions Financial's payout ratio is presently 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.