Planned Solutions Inc. Lowers Stake in Regions Financial Corporation $RF

Planned Solutions Inc. lessened its stake in Regions Financial Corporation (NYSE:RF) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,085 shares of the bank’s stock after selling 834 shares during the period. Planned Solutions Inc.’s holdings in Regions Financial were worth $237,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RF. American National Bank & Trust grew its stake in shares of Regions Financial by 2,433.3% in the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock valued at $25,000 after buying an additional 1,022 shares in the last quarter. Bayforest Capital Ltd lifted its stake in Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after acquiring an additional 1,058 shares in the last quarter. Rossby Financial LCC purchased a new position in Regions Financial during the 1st quarter valued at about $36,000. Groupe la Francaise acquired a new position in Regions Financial in the 1st quarter valued at about $41,000. Finally, Ameritas Advisory Services LLC acquired a new position in Regions Financial in the 2nd quarter valued at about $44,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.8%

Shares of NYSE RF opened at $23.54 on Friday. The business has a 50-day moving average of $26.23 and a two-hundred day moving average of $23.68. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 1.12 and a beta of 1.02. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last issued its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The business had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. On average, analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RF. Wall Street Zen raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Evercore ISI increased their target price on shares of Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Citigroup raised their price target on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. DA Davidson upped their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Regions Financial in a research note on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.79.

Insider Buying and Selling

In related news, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger W. Jenkins purchased 4,000 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 6,383 shares of the company’s stock, valued at $162,638.84. This represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

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.