Vaughan David Investments LLC IL Reduces Holdings in Regions Financial Co. (NYSE:RF)

Vaughan David Investments LLC IL trimmed its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 1.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,434,652 shares of the bank's stock after selling 29,233 shares during the period. Regions Financial accounts for about 1.2% of Vaughan David Investments LLC IL's holdings, making the stock its 21st biggest holding. Vaughan David Investments LLC IL owned 0.27% of Regions Financial worth $48,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. IFG Advisory LLC increased its stake in shares of Regions Financial by 1.8% in the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank's stock worth $620,000 after acquiring an additional 546 shares during the last quarter. HB Wealth Management LLC raised its stake in Regions Financial by 0.6% during the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank's stock worth $2,035,000 after purchasing an additional 551 shares during the period. CWM LLC boosted its holdings in Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank's stock valued at $866,000 after purchasing an additional 556 shares during the last quarter. Perigon Wealth Management LLC grew its stake in shares of Regions Financial by 2.8% in the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank's stock valued at $433,000 after buying an additional 565 shares during the period. Finally, Signet Financial Management LLC increased its holdings in shares of Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank's stock worth $262,000 after buying an additional 584 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RF. Jefferies Financial Group raised their target price on Regions Financial from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, July 3rd. Royal Bank of Canada upped their target price on shares of Regions Financial from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods lowered their target price on shares of Regions Financial from $22.00 to $21.00 and set a "market perform" rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company boosted their price target on shares of Regions Financial from $18.00 to $22.00 and gave the company an "equal weight" rating in a research note on Monday, July 22nd. Finally, Evercore ISI lowered their price objective on shares of Regions Financial from $22.00 to $21.00 and set an "in-line" rating for the company in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $21.51.

Regions Financial Stock Down 1.4 %

RF traded down $0.32 on Wednesday, hitting $22.00. 9,631,859 shares of the company were exchanged, compared to its average volume of 8,003,310. The firm has a 50-day moving average price of $21.73 and a two-hundred day moving average price of $20.23. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The business's revenue for the quarter was down 11.5% on a year-over-year basis. On average, equities analysts predict that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This is a boost from Regions Financial's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Tuesday, September 3rd. Regions Financial's payout ratio is 54.35%.

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.