Comerica Bank Has $4.23 Million Stock Holdings in Regions Financial Corp (NYSE:RF)

Comerica Bank lessened its position in Regions Financial Corp (NYSE:RF) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 261,237 shares of the bank’s stock after selling 2,204 shares during the quarter. Comerica Bank’s holdings in Regions Financial were worth $4,227,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in RF. Nuveen Asset Management LLC raised its position in Regions Financial by 3,639.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,056,945 shares of the bank’s stock valued at $90,490,000 after buying an additional 5,894,957 shares during the last quarter. Invesco Ltd. raised its position in Regions Financial by 68.9% in the 2nd quarter. Invesco Ltd. now owns 10,444,676 shares of the bank’s stock valued at $156,043,000 after buying an additional 4,259,901 shares during the last quarter. Bank of America Corp DE raised its position in Regions Financial by 20.6% in the 2nd quarter. Bank of America Corp DE now owns 12,704,955 shares of the bank’s stock valued at $189,812,000 after buying an additional 2,172,240 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Regions Financial in the 2nd quarter valued at approximately $22,677,000. Finally, CWM LLC raised its position in Regions Financial by 6,461.9% in the 2nd quarter. CWM LLC now owns 986,117 shares of the bank’s stock valued at $14,733,000 after buying an additional 971,089 shares during the last quarter. 71.42% of the stock is currently owned by institutional investors and hedge funds.

NYSE:RF opened at $16.88 on Friday. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.57 and a beta of 1.56. Regions Financial Corp has a twelve month low of $12.39 and a twelve month high of $17.78. The stock’s 50 day moving average price is $15.96 and its two-hundred day moving average price is $15.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.

Regions Financial (NYSE:RF) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Regions Financial had a return on equity of 10.88% and a net margin of 23.78%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Regions Financial Corp will post 1.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.155 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.62 annualized dividend and a dividend yield of 3.67%. Regions Financial’s dividend payout ratio is currently 45.59%.

In other news, EVP C. Keith Herron sold 69,288 shares of Regions Financial stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $14.51, for a total transaction of $1,005,368.88. Following the completion of the transaction, the executive vice president now directly owns 232,595 shares in the company, valued at approximately $3,374,953.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP C. Matthew Lusco sold 20,000 shares of Regions Financial stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $16.43, for a total value of $328,600.00. Following the transaction, the executive vice president now owns 163,229 shares of the company’s stock, valued at $2,681,852.47. The disclosure for this sale can be found here. Insiders have sold a total of 107,697 shares of company stock valued at $1,633,483 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently issued reports on RF shares. Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $15.00 to $17.00 in a research report on Monday, July 22nd. Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $16.00 to $18.00 in a research report on Tuesday, October 8th. Morgan Stanley set a $16.00 price target on Regions Financial and gave the stock a “hold” rating in a research report on Friday, August 9th. UBS Group boosted their price target on Regions Financial from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup lowered Regions Financial from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $16.00 to $14.00 in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $16.74.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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