First Horizon Advisors Inc. Lowers Holdings in Regions Financial Co. (NYSE:RF)

First Horizon Advisors Inc. lowered its holdings in shares of Regions Financial Co. (NYSE:RF) by 9.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,394 shares of the bank’s stock after selling 668 shares during the period. First Horizon Advisors Inc.’s holdings in Regions Financial were worth $149,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Private Advisor Group LLC boosted its holdings in shares of Regions Financial by 1.8% during the 3rd quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares during the last quarter. CWM LLC boosted its stake in Regions Financial by 1.1% during the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after buying an additional 480 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Regions Financial by 2.4% during the 3rd quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after buying an additional 506 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Regions Financial by 2.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock worth $473,000 after acquiring an additional 545 shares during the last quarter. Finally, IFG Advisory LLC raised its holdings in shares of Regions Financial by 1.8% during the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after acquiring an additional 546 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RF shares. DA Davidson raised their target price on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Company lifted their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Wedbush upped their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.41.

Regions Financial Trading Up 2.0 %

NYSE RF opened at $27.28 on Friday. Regions Financial Co. has a 12 month low of $15.79 and a 12 month high of $27.32. The company’s 50-day moving average price is $24.05 and its 200-day moving average price is $21.82. The stock has a market cap of $24.79 billion, a PE ratio of 15.41, a PEG ratio of 2.77 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. Equities research analysts forecast that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. Regions Financial’s dividend payout ratio is presently 56.50%.

About Regions Financial

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.