Desjardins Global Asset Management Inc. Reduces Stock Holdings in Regions Financial Co. (NYSE:RF)

Desjardins Global Asset Management Inc. trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 78.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,757 shares of the bank’s stock after selling 10,172 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Regions Financial were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC purchased a new position in Regions Financial during the 3rd quarter worth $26,000. Dark Forest Capital Management LP acquired a new position in shares of Regions Financial in the first quarter valued at about $26,000. Sound Income Strategies LLC increased its holdings in shares of Regions Financial by 103.2% in the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares during the period. HM Payson & Co. increased its holdings in shares of Regions Financial by 2,000.0% in the third quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Finally, West Paces Advisors Inc. increased its holdings in shares of Regions Financial by 277.2% in the third quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,752 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.5 %

Shares of NYSE RF opened at $18.91 on Friday. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.36 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average of $19.32 and a two-hundred day moving average of $17.99. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.08.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the firm earned $0.62 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. On average, analysts forecast that Regions Financial Co. will post 1.98 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 45.93%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RF. Argus lowered Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $23.00 in a report on Monday, March 18th. Stephens reissued an “equal weight” rating and issued a $21.00 price objective on shares of Regions Financial in a report on Tuesday, January 23rd. Morgan Stanley increased their price objective on Regions Financial from $21.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Finally, Evercore ISI raised their target price on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $20.39.

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.