Regions Financial Co. (NYSE:RF) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC decreased its holdings in Regions Financial Co. (NYSE:RF) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,965 shares of the bank’s stock after selling 505 shares during the quarter. KG&L Capital Management LLC’s holdings in Regions Financial were worth $559,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RF. Westbourne Investment Advisors Inc. purchased a new position in Regions Financial during the 3rd quarter worth approximately $202,000. Van ECK Associates Corp grew its position in Regions Financial by 59.0% during the 3rd quarter. Van ECK Associates Corp now owns 37,721 shares of the bank’s stock worth $891,000 after purchasing an additional 13,999 shares in the last quarter. Confluence Wealth Services Inc. grew its position in Regions Financial by 6.1% during the 3rd quarter. Confluence Wealth Services Inc. now owns 48,251 shares of the bank’s stock worth $1,126,000 after purchasing an additional 2,757 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Regions Financial by 16.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 66,925 shares of the bank’s stock worth $1,561,000 after purchasing an additional 9,407 shares in the last quarter. Finally, Prossimo Advisors LLC grew its position in Regions Financial by 9.9% during the 3rd quarter. Prossimo Advisors LLC now owns 18,840 shares of the bank’s stock worth $440,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RF. Morgan Stanley lifted their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $27.00 to $28.00 in a report on Thursday. Evercore ISI boosted their price target on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Citigroup boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and an average target price of $25.45.

Regions Financial Stock Down 1.3 %

RF stock opened at $23.56 on Monday. The firm has a market cap of $21.56 billion, a PE ratio of 13.31, a PEG ratio of 2.50 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 1 year low of $14.60 and a 1 year high of $24.47. The company has a fifty day simple moving average of $23.09 and a 200 day simple moving average of $21.18.

Regions Financial (NYSE:RF) last released its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Sell-side analysts anticipate that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is 56.50%.

Regions Financial Company 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.