Shell Asset Management Co. Sells 63,042 Shares of Regions Financial Corporation $RF

Shell Asset Management Co. lessened its stake in Regions Financial Corporation (NYSE:RF) by 66.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,232 shares of the bank’s stock after selling 63,042 shares during the quarter. Shell Asset Management Co.’s holdings in Regions Financial were worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Centaurus Financial Inc. increased its stake in Regions Financial by 3.9% during the 2nd quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock valued at $241,000 after purchasing an additional 382 shares in the last quarter. Fairvoy Private Wealth LLC grew its holdings in shares of Regions Financial by 1.9% during the third quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock valued at $624,000 after buying an additional 449 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Regions Financial by 11.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,896 shares of the bank’s stock valued at $129,000 after acquiring an additional 485 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Regions Financial by 0.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 75,163 shares of the bank’s stock worth $1,982,000 after acquiring an additional 486 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in Regions Financial by 0.9% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 56,700 shares of the bank’s stock valued at $1,334,000 after acquiring an additional 500 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the transaction, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Regions Financial Stock Performance

RF opened at $29.73 on Tuesday. The company’s 50 day moving average is $28.36 and its 200 day moving average is $26.57. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market cap of $26.07 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.05 and a beta of 1.04. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $31.53.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial declared that its board has authorized a share buyback plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 46.29%.

Analyst Upgrades and Downgrades

RF has been the subject of a number of research analyst reports. Barclays lifted their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Evercore downgraded Regions Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $27.00 to $29.00 in a report on Tuesday, January 6th. Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a research report on Friday, January 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 price target on shares of Regions Financial in a report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average price target of $29.84.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.