Regions Financial Co. (NYSE:RF) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,203,838 shares of the bank's stock after selling 498,674 shares during the period. Ameriprise Financial Inc. owned approximately 0.46% of Regions Financial worth $98,943,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock worth $686,398,000 after buying an additional 1,396,647 shares during the period. Geode Capital Management LLC grew its holdings in shares of Regions Financial by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock worth $540,284,000 after acquiring an additional 403,283 shares during the period. First Trust Advisors LP increased its stake in Regions Financial by 7.7% in the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock valued at $401,097,000 after purchasing an additional 1,224,645 shares in the last quarter. Invesco Ltd. raised its holdings in Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after purchasing an additional 1,963,954 shares during the last quarter. Finally, Norges Bank purchased a new stake in Regions Financial during the fourth quarter worth $279,103,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Down 0.7 %

RF stock traded down $0.14 during trading on Friday, reaching $21.16. 7,438,082 shares of the stock traded hands, compared to its average volume of 8,092,838. The firm has a market capitalization of $19.02 billion, a PE ratio of 10.91, a P/E/G ratio of 1.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The business's 50 day moving average price is $20.62 and its 200-day moving average price is $23.26. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company earned $0.37 EPS. As a group, sell-side analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

Wall Street Analyst Weigh In

RF has been the topic of several recent research reports. Morgan Stanley decreased their price objective on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Citigroup lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. The Goldman Sachs Group cut their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price target on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, Barclays reduced their price objective on Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.53.

Insider Activity

In other news, Director Joia M. Johnson purchased 2,300 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

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.