Principal Street Partners LLC Has $261,000 Position in Regions Financial Co. (NYSE:RF)

Principal Street Partners LLC cut its stake in Regions Financial Co. (NYSE:RF) by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,260 shares of the bank’s stock after selling 526 shares during the quarter. Principal Street Partners LLC’s holdings in Regions Financial were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Citigroup Inc. raised its position in Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after acquiring an additional 253,708 shares in the last quarter. Commerce Bank raised its holdings in shares of Regions Financial by 392.5% during the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after purchasing an additional 197,900 shares in the last quarter. Swedbank AB acquired a new stake in shares of Regions Financial in the 1st quarter valued at $19,322,000. National Pension Service boosted its holdings in Regions Financial by 6.3% in the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after purchasing an additional 102,380 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Regions Financial by 47.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank’s stock worth $5,666,000 after buying an additional 89,045 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RF shares. Wells Fargo & Company upped their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. DA Davidson upped their target price on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup lifted their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

Regions Financial Stock Down 0.6 %

Shares of NYSE RF opened at $27.30 on Wednesday. Regions Financial Co. has a 12-month low of $15.79 and a 12-month high of $27.96. The firm’s 50-day simple moving average is $24.25 and its 200 day simple moving average is $21.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The company has a market cap of $24.81 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.16.

Regions Financial (NYSE:RF) last released its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm earned $0.49 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. On average, research analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Regions Financial Company 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.