Kennebec Savings Bank Cuts Stake in Regions Financial Co. (NYSE:RF)

Kennebec Savings Bank lowered its stake in Regions Financial Co. (NYSE:RF) by 33.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,700 shares of the bank’s stock after selling 860 shares during the quarter. Kennebec Savings Bank’s holdings in Regions Financial were worth $40,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. American National Bank & Trust lifted its stake in Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after acquiring an additional 1,114 shares during the last quarter. Quarry LP grew its stake in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Regions Financial in the third quarter valued at $37,000. Legacy Investment Solutions LLC purchased a new stake in Regions Financial during the 3rd quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of Regions Financial by 163.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 2,392 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,483 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.8 %

RF opened at $24.77 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 12 month low of $17.42 and a 12 month high of $27.96. The stock has a market capitalization of $22.51 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.97 and a beta of 1.21. The business has a 50 day simple moving average of $24.83 and a 200-day simple moving average of $23.64.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. On average, equities analysts anticipate that Regions Financial Co. will post 2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on RF. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Barclays lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Compass Point raised their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.67.

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.