Woodmont Investment Counsel LLC Sells 498 Shares of Regions Financial Corporation $RF

Woodmont Investment Counsel LLC trimmed its holdings in Regions Financial Corporation (NYSE:RF) by 5.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,756 shares of the bank’s stock after selling 498 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Regions Financial were worth $206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Regions Financial by 35.7% during the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank’s stock worth $456,122,000 after acquiring an additional 5,521,772 shares during the last quarter. Nuveen LLC purchased a new stake in Regions Financial in the 1st quarter worth $53,018,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Regions Financial by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock valued at $675,645,000 after purchasing an additional 1,909,162 shares during the last quarter. Amundi boosted its holdings in shares of Regions Financial by 20.4% during the 1st quarter. Amundi now owns 10,010,267 shares of the bank’s stock valued at $198,721,000 after purchasing an additional 1,696,347 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Regions Financial by 3.7% in the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank’s stock worth $960,717,000 after purchasing an additional 1,562,512 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 2.0%

Shares of NYSE RF opened at $25.86 on Tuesday. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The firm has a market capitalization of $23.08 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.52 and a beta of 1.02. The stock has a 50 day moving average price of $26.33 and a 200 day moving average price of $23.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company posted $0.52 EPS. Regions Financial’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.1%. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, September 2nd. Regions Financial’s payout ratio is currently 49.30%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley set a $32.00 price target on Regions Financial in a research note on Monday, September 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Regions Financial in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. DA Davidson increased their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Stephens boosted their target price on shares of Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and a consensus target price of $27.89.

Insider Activity

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