Regions Financial Corporation (NYSE:RF) Shares Sold by US Bancorp DE

US Bancorp DE lowered its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,067 shares of the bank's stock after selling 10,648 shares during the period. US Bancorp DE's holdings in Regions Financial were worth $2,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RF. Bayforest Capital Ltd grew its position in Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after buying an additional 1,058 shares in the last quarter. Rossby Financial LCC bought a new stake in shares of Regions Financial during the 1st quarter valued at $36,000. Grove Bank & Trust grew its holdings 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. Allworth Financial LP increased its position in shares of Regions Financial by 30.7% in the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after purchasing an additional 786 shares during the period. Finally, TD Waterhouse Canada Inc. raised its stake in Regions Financial by 181.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock valued at $76,000 after purchasing an additional 2,078 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Insider Activity at Regions Financial

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares of the company's stock, valued at $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company's stock.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.28 during trading hours on Friday, reaching $24.92. 7,576,761 shares of the stock traded hands, compared to its average volume of 9,786,812. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96. The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $23.90 and a 200 day moving average price of $22.60.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The company's revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.265 per share. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 annualized dividend and a dividend yield of 4.3%. Regions Financial's payout ratio is currently 49.30%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group started coverage on Regions Financial in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 target price on the stock. Citigroup lifted their price target on shares of Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods upped their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. TD Cowen assumed coverage on shares of Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price on the stock. Finally, Stephens boosted their target price on shares of Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Regions Financial 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.