Eventide Asset Management LLC Sells 330,382 Shares of Regions Financial Corporation $RF

Eventide Asset Management LLC lowered its stake in Regions Financial Corporation (NYSE:RF) by 61.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,156 shares of the bank’s stock after selling 330,382 shares during the quarter. Eventide Asset Management LLC’s holdings in Regions Financial were worth $5,605,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RF. Norges Bank bought a new stake in shares of Regions Financial in the 4th quarter valued at $254,564,000. Victory Capital Management Inc. increased its stake in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after acquiring an additional 9,312,449 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Regions Financial by 118.6% in the 4th quarter. First Trust Advisors LP now owns 7,604,482 shares of the bank’s stock valued at $206,081,000 after acquiring an additional 4,125,776 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after acquiring an additional 2,980,505 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after acquiring an additional 2,371,048 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

RF opened at $29.24 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.14 and a beta of 1.00. The firm’s fifty day moving average price is $27.79 and its two-hundred day moving average price is $27.67. Regions Financial Corporation has a 1 year low of $21.40 and a 1 year high of $31.53.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 EPS. As a group, analysts anticipate that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RF. DA Davidson boosted their price target on shares of Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Morgan Stanley decreased their price target on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Brean Capital began coverage on shares of Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating for the company. JPMorgan Chase & Co. decreased their price target on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada boosted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Regions Financial presently has an average rating of “Hold” and a consensus price target of $30.47.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.