Chevy Chase Trust Holdings LLC Lowers Position in Regions Financial Corporation $RF

Chevy Chase Trust Holdings LLC lessened its stake in Regions Financial Corporation (NYSE:RF) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 551,676 shares of the bank’s stock after selling 2,676 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Regions Financial were worth $12,975,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. American National Bank & Trust boosted its position in Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after purchasing an additional 1,022 shares in the last quarter. Bayforest Capital Ltd lifted its position in shares of Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after buying an additional 1,058 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Regions Financial during the 1st quarter valued at approximately $36,000. Groupe la Francaise purchased a new position in shares of Regions Financial during the 1st quarter valued at approximately $41,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Regions Financial during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 0.8%

Shares of RF stock opened at $23.54 on Monday. The stock’s fifty day moving average is $26.23 and its two-hundred day moving average is $23.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market capitalization of $21.00 billion, a P/E ratio of 10.37, a PEG ratio of 1.12 and a beta of 1.02. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The company had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. Research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.5%. Regions Financial’s dividend payout ratio (DPR) is 49.30%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RF shares. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Citigroup increased their target price on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Evercore ISI increased their target price on Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Stephens reiterated an “equal weight” rating and set a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Finally, DA Davidson increased their target price on Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.79.

Insiders Place Their Bets

In related news, Director Roger W. Jenkins bought 4,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director directly owned 6,383 shares of the company’s stock, valued at $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the sale, the executive vice president directly owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

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.