Amalgamated Bank Cuts Stock Holdings in Regions Financial Co. (NYSE:RF)

Amalgamated Bank reduced its position in Regions Financial Co. (NYSE:RF - Free Report) by 31.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,105 shares of the bank's stock after selling 82,265 shares during the quarter. Amalgamated Bank's holdings in Regions Financial were worth $4,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of RF. EntryPoint Capital LLC bought a new position in shares of Regions Financial in the first quarter worth approximately $26,000. American National Bank & Trust boosted its position in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock worth $27,000 after acquiring an additional 1,114 shares during the last quarter. Quarry LP boosted its position in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after acquiring an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Regions Financial during the second quarter worth $32,000. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Stephens upgraded shares of Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 target price for the company in a research report on Tuesday, October 29th. Bank of America upped their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Royal Bank of Canada increased their price objective 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. Finally, Evercore ISI increased their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an "in-line" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Regions Financial currently has an average rating of "Moderate Buy" and a consensus target price of $25.45.

Regions Financial Trading Up 0.8 %

Shares of RF traded up $0.21 during midday trading on Friday, hitting $25.62. The stock had a trading volume of 6,487,977 shares, compared to its average volume of 8,398,264. Regions Financial Co. has a 1 year low of $14.86 and a 1 year high of $26.33. The firm has a market cap of $23.28 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 2.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The stock's 50 day moving average is $23.27 and its 200 day moving average is $21.35.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly 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). The company had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. As a group, analysts forecast that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.90%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio is presently 56.50%.

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.