Bay Harbor Wealth Management LLC Sells 1,862 Shares of Regions Financial Co. (NYSE:RF)

Bay Harbor Wealth Management LLC reduced its holdings in shares of Regions Financial Co. (NYSE:RF) by 59.7% in the first quarter, Holdings Channel.com reports. The fund owned 1,258 shares of the bank’s stock after selling 1,862 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Regions Financial were worth $26,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RF. Louisiana State Employees Retirement System lifted its stake in shares of Regions Financial by 22.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 59,600 shares of the bank’s stock worth $961,000 after acquiring an additional 10,800 shares during the last quarter. IFM Investors Pty Ltd raised its position in Regions Financial by 22.5% during the 4th quarter. IFM Investors Pty Ltd now owns 94,284 shares of the bank’s stock valued at $1,520,000 after purchasing an additional 17,314 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Regions Financial by 1.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 101,756 shares of the bank’s stock valued at $1,640,000 after purchasing an additional 1,055 shares in the last quarter. Clarius Group LLC bought a new stake in Regions Financial during the 4th quarter valued at $201,000. Finally, Crescent Capital Consulting LLC bought a new stake in Regions Financial during the 4th quarter valued at $306,000. 71.67% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have weighed in on RF shares. Deutsche Bank Aktiengesellschaft lifted their target price on Regions Financial from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, April 1st. Barclays lifted their target price on Regions Financial from $22.00 to $23.00 and gave the company an “underweight” rating in a research report on Monday, April 26th. Morgan Stanley boosted their price target on Regions Financial from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, March 8th. Raymond James reissued an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Regions Financial in a research report on Tuesday, April 13th. Finally, Stephens boosted their price target on Regions Financial from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.47.

Shares of RF stock opened at $23.25 on Monday. Regions Financial Co. has a 1-year low of $9.01 and a 1-year high of $23.31. The stock’s fifty day moving average price is $21.36 and its 200 day moving average price is $18.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.58.

Regions Financial (NYSE:RF) last announced its earnings results on Thursday, April 22nd. The bank reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.15. Regions Financial had a return on equity of 5.61% and a net margin of 13.17%. During the same quarter in the prior year, the business posted $0.14 EPS. As a group, equities research analysts anticipate that Regions Financial Co. will post 0.83 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $0.62 annualized dividend and a yield of 2.67%. Regions Financial’s payout ratio is presently 40.00%.

In other Regions Financial news, CFO David J. Turner, Jr. sold 88,000 shares of the business’s stock in a transaction dated Tuesday, April 27th. The stock was sold at an average price of $21.11, for a total transaction of $1,857,680.00. Following the sale, the chief financial officer now owns 160,891 shares in the company, valued at approximately $3,396,409.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott M. Peters sold 12,000 shares of the business’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $21.00, for a total value of $252,000.00. Following the sale, the executive vice president now owns 23,036 shares in the company, valued at approximately $483,756. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,147 shares of company stock worth $3,245,534. Company insiders own 0.47% of the company’s stock.

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.

Further Reading: Diversification Important in Investing

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

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