Westbourne Investment Advisors Inc. lifted its position in shares of Regions Financial Corp (NYSE:RF) by 7.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,740 shares of the bank’s stock after purchasing an additional 6,335 shares during the period. Regions Financial comprises about 1.0% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 29th largest position. Westbourne Investment Advisors Inc.’s holdings in Regions Financial were worth $1,256,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Regions Financial during the fourth quarter worth about $146,362,000. JPMorgan Chase & Co. boosted its holdings in Regions Financial by 17.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,054,121 shares of the bank’s stock valued at $367,993,000 after purchasing an additional 3,013,569 shares in the last quarter. Morgan Stanley boosted its holdings in Regions Financial by 61.7% in the 3rd quarter. Morgan Stanley now owns 6,996,887 shares of the bank’s stock valued at $128,394,000 after purchasing an additional 2,670,907 shares in the last quarter. Miller Howard Investments Inc. NY boosted its holdings in Regions Financial by 23,275.6% in the 4th quarter. Miller Howard Investments Inc. NY now owns 2,399,974 shares of the bank’s stock valued at $32,112,000 after purchasing an additional 2,389,707 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Regions Financial in the 3rd quarter valued at approximately $36,056,000. Institutional investors and hedge funds own 74.36% of the company’s stock.
Shares of NYSE:RF traded down $0.24 during trading on Monday, hitting $15.36. 4,951,564 shares of the stock were exchanged, compared to its average volume of 13,902,062. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. Regions Financial Corp has a 12-month low of $12.39 and a 12-month high of $19.99.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.56 annualized dividend and a dividend yield of 3.65%. Regions Financial’s dividend payout ratio is currently 41.18%.
RF has been the topic of a number of analyst reports. ValuEngine lowered Regions Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. Sandler O’Neill lowered Regions Financial from a “buy” rating to a “hold” rating and set a $16.41 price objective on the stock. in a report on Thursday, February 28th. Nomura raised Regions Financial from a “reduce” rating to a “neutral” rating and set a $14.00 price objective on the stock in a report on Friday, March 29th. Barclays lowered their price objective on Regions Financial from $20.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday, January 2nd. Finally, UBS Group raised Regions Financial from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.28.
About Regions Financial
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.
Further Reading: Buy-Side Analysts
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