Regions Financial Co. (NYSE:RF) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 9.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,007,309 shares of the bank's stock after selling 102,279 shares during the period. Raymond James & Associates owned approximately 0.11% of Regions Financial worth $23,501,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RF. First Citizens Bank & Trust Co. boosted its position in Regions Financial by 39.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 621,472 shares of the bank's stock valued at $14,499,000 after buying an additional 177,155 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in Regions Financial by 2.7% in the third quarter. Capital Investment Advisors LLC now owns 26,327 shares of the bank's stock valued at $614,000 after purchasing an additional 702 shares during the last quarter. Blue Trust Inc. grew its stake in Regions Financial by 46.6% during the 3rd quarter. Blue Trust Inc. now owns 23,194 shares of the bank's stock valued at $541,000 after purchasing an additional 7,378 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Regions Financial by 2.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 35,200 shares of the bank's stock worth $821,000 after purchasing an additional 751 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC raised its position in shares of Regions Financial by 2.5% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 73,117 shares of the bank's stock valued at $1,706,000 after purchasing an additional 1,814 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of NYSE:RF traded down $0.26 during trading hours on Friday, hitting $23.50. The stock had a trading volume of 7,022,663 shares, compared to its average volume of 7,939,769. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The stock's fifty day simple moving average is $22.91 and its 200 day simple moving average is $21.00. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 2.80 and a beta of 1.17. Regions Financial Co. has a 1-year low of $13.95 and a 1-year high of $24.47.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm's revenue was down 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial's payout ratio is currently 54.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RF shares. Argus raised shares of Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price target for the company in a research report on Thursday. The Goldman Sachs Group upped their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods decreased their price target on 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. Royal Bank of Canada boosted their price objective on Regions Financial from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, July 22nd. Finally, Barclays increased their target price on Regions Financial from $22.00 to $25.00 and gave the stock an "underweight" rating in a report on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $24.35.

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.