Bedel Financial Consulting Inc. Decreases Stock Holdings in Regions Financial Corp (NYSE:RF)

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Bedel Financial Consulting Inc. trimmed its holdings in shares of Regions Financial Corp (NYSE:RF) by 45.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,236 shares of the bank’s stock after selling 1,858 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Regions Financial were worth $35,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Diversified Trust Co grew its holdings in Regions Financial by 13.9% during the third quarter. Diversified Trust Co now owns 41,090 shares of the bank’s stock valued at $650,000 after purchasing an additional 5,000 shares during the period. State of Alaska Department of Revenue grew its holdings in Regions Financial by 140.2% during the third quarter. State of Alaska Department of Revenue now owns 621,409 shares of the bank’s stock valued at $9,830,000 after purchasing an additional 362,711 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Regions Financial by 46.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 667,648 shares of the bank’s stock valued at $9,975,000 after purchasing an additional 210,341 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Regions Financial during the second quarter valued at $431,000. Finally, Hancock Whitney Corp grew its holdings in Regions Financial by 6.0% during the second quarter. Hancock Whitney Corp now owns 113,762 shares of the bank’s stock valued at $1,699,000 after purchasing an additional 6,488 shares during the period. 71.40% of the stock is owned by institutional investors.

Shares of Regions Financial stock traded up $0.02 during trading hours on Wednesday, reaching $14.91. The company had a trading volume of 10,397,823 shares, compared to its average volume of 11,793,587. Regions Financial Corp has a one year low of $12.39 and a one year high of $18.77. The business has a fifty day simple moving average of $15.23 and a 200 day simple moving average of $14.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market cap of $14.85 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.30 and a beta of 1.55.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. Regions Financial had a return on equity of 10.86% and a net margin of 26.43%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts forecast that Regions Financial Corp will post 1.54 EPS for the current year.

Regions Financial announced that its Board of Directors has initiated a share buyback program on Thursday, June 27th that allows the company to repurchase $1.37 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Thursday, September 5th. This is an increase from Regions Financial’s previous quarterly dividend of $0.14. Regions Financial’s dividend payout ratio (DPR) is 45.59%.

In related news, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $14.68, for a total value of $104,932.64. Following the sale, the insider now owns 34,482 shares in the company, valued at $506,195.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John B. Owen sold 40,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $14.63, for a total value of $585,200.00. Following the completion of the sale, the chief operating officer now owns 87,152 shares in the company, valued at approximately $1,275,033.76. The disclosure for this sale can be found here. Insiders sold 136,436 shares of company stock worth $2,024,102 in the last quarter. 0.28% of the stock is currently owned by company insiders.

RF has been the subject of several research reports. UBS Group increased their price objective on Regions Financial from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. ValuEngine raised Regions Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks cut their price target on Regions Financial from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $15.00 to $17.00 in a report on Monday, July 22nd. Finally, Bank of America lowered Regions Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $16.00 in a report on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Regions Financial has a consensus rating of “Hold” and a consensus target price of $17.24.

Regions Financial Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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