Regions Financial Co. (NYSE:RF) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,665,864 shares of the bank's stock after selling 521,872 shares during the quarter. Bank of America Corp DE owned 0.40% of Regions Financial worth $86,221,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Y.D. More Investments Ltd grew its position in shares of Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock valued at $27,000 after buying an additional 634 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at $28,000. Picton Mahoney Asset Management grew its position in shares of Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock valued at $29,000 after buying an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at $32,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at $44,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on RF. Keefe, Bruyette & Woods lowered 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. Stephens lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company lowered 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. Citigroup lowered their price objective 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. Finally, The Goldman Sachs Group lowered their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.53.

Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares of the company's stock, valued at $370,353.48. The trade was a 15.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Regions Financial Stock Performance

Shares of RF opened at $21.16 on Monday. The firm's 50 day moving average is $20.62 and its 200-day moving average is $23.26. The stock has a market capitalization of $19.02 billion, a P/E 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. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same period last year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be issued a dividend of $0.25 per share. 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 dividend payout ratio is currently 48.08%.

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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Co. (NYSE:RF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.