Massachusetts Financial Services Co. MA Decreases Stock Position in Regions Financial Corporation (NYSE:RF)

Massachusetts Financial Services Co. MA trimmed its position in Regions Financial Corporation (NYSE:RF - Free Report) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,852,124 shares of the bank's stock after selling 17,635 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.87% of Regions Financial worth $170,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its position in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after purchasing an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Regions Financial during the 4th quarter worth $32,000. Rossby Financial LCC purchased a new stake in shares of Regions Financial during the 1st quarter worth $36,000. Grove Bank & Trust boosted its position in shares of Regions Financial by 76.6% during the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Regions Financial by 30.7% during the 1st quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after purchasing an additional 786 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Trading Up 2.0%

Shares of NYSE RF traded up $0.48 on Thursday, reaching $24.56. 5,742,046 shares of the company traded hands, compared to its average volume of 8,356,666. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The company has a 50 day moving average of $22.61 and a 200 day moving average of $22.40. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $22.07 billion, a PE ratio of 11.79, a P/E/G ratio of 1.79 and a beta of 0.98.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. The company 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 posted $0.37 EPS. On average, equities research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.32%. This is an increase from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio is currently 48.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RF shares. Keefe, Bruyette & Woods decreased their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company decreased their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Cowen started coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. TD Cowen started coverage on shares of Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of Regions Financial from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.15.

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.