Proffitt & Goodson Inc. Has $97,000 Stock Position in Regions Financial Corporation $RF

Proffitt & Goodson Inc. boosted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 19.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,133 shares of the bank’s stock after buying an additional 676 shares during the period. Proffitt & Goodson Inc.’s holdings in Regions Financial were worth $97,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Shell Asset Management Co. boosted its stake in Regions Financial by 48.2% during the second quarter. Shell Asset Management Co. now owns 94,274 shares of the bank’s stock worth $2,217,000 after buying an additional 30,675 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in Regions Financial by 5.4% during the second quarter. KLP Kapitalforvaltning AS now owns 327,826 shares of the bank’s stock worth $7,778,000 after buying an additional 16,800 shares in the last quarter. Hardy Reed LLC boosted its stake in Regions Financial by 1.6% during the second quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock worth $606,000 after buying an additional 404 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in Regions Financial by 28.3% during the second quarter. Meitav Investment House Ltd. now owns 27,113 shares of the bank’s stock worth $638,000 after buying an additional 5,988 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in Regions Financial by 48.0% during the second quarter. Valeo Financial Advisors LLC now owns 21,123 shares of the bank’s stock worth $497,000 after buying an additional 6,855 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF opened at $25.75 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day simple moving average of $26.32 and a 200 day simple moving average of $23.54. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The firm has a market capitalization of $22.97 billion, a PE ratio of 11.97, a P/E/G ratio of 1.48 and a beta of 1.02.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.265 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.1%. Regions Financial’s payout ratio is currently 49.30%.

Insider Buying and Selling

In other Regions Financial 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 transaction of $750,300.00. Following the completion of the transaction, the executive vice president owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger W. Jenkins purchased 4,000 shares of Regions Financial stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $25.48 per share, with a total value of $101,920.00. Following the transaction, the director owned 6,383 shares in the company, valued at approximately $162,638.84. The trade was 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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RF. Wall Street Zen upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Evercore ISI lifted their price target on shares of Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Citigroup boosted their target price on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Cantor Fitzgerald began coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, DA Davidson boosted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus target price of $27.89.

About Regions Financial

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.