Alpine Woods Capital Investors LLC reduced its stake in shares of Regions Financial Corporation (NYSE:RF) by 8.3% during the second quarter, Holdings Channel reports. The institutional investor owned 776,000 shares of the bank’s stock after selling 70,000 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Regions Financial Corporation were worth $11,361,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RF. Macquarie Group Ltd. increased its stake in shares of Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock valued at $638,000 after buying an additional 14,525 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Regions Financial Corporation by 12.8% in the first quarter. Raymond James Trust N.A. now owns 25,932 shares of the bank’s stock valued at $377,000 after buying an additional 2,939 shares in the last quarter. Reliance Trust Co. of Delaware increased its stake in shares of Regions Financial Corporation by 75.5% in the first quarter. Reliance Trust Co. of Delaware now owns 29,318 shares of the bank’s stock valued at $426,000 after buying an additional 12,609 shares in the last quarter. Vicus Capital bought a new stake in shares of Regions Financial Corporation during the first quarter valued at about $667,000. Finally, DnB Asset Management AS increased its stake in shares of Regions Financial Corporation by 7.9% in the first quarter. DnB Asset Management AS now owns 130,714 shares of the bank’s stock valued at $1,899,000 after buying an additional 9,600 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.

Shares of Regions Financial Corporation (NYSE:RF) opened at 14.07 on Friday. Regions Financial Corporation has a 52 week low of $9.28 and a 52 week high of $16.03. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 14.70 and a beta of 1.31. The firm’s 50-day moving average price is $14.54 and its 200-day moving average price is $14.47.

Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 EPS. Equities research analysts expect that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.

Regions Financial Corporation announced that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in shares. This repurchase authorization permits the bank to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio is 29.47%.

TRADEMARK VIOLATION NOTICE: “Alpine Woods Capital Investors LLC Sells 70,000 Shares of Regions Financial Corporation (NYSE:RF)” was first posted by Daily Political and is owned by of Daily Political. If you are reading this piece on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The original version of this piece can be read at https://www.dailypolitical.com/2017/08/13/alpine-woods-capital-investors-llc-sells-70000-shares-of-regions-financial-corporation-nyserf.html.

RF has been the topic of several recent research reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $14.50 price objective on shares of Regions Financial Corporation in a research report on Wednesday, April 19th. FBR & Co set a $18.00 price objective on Regions Financial Corporation and gave the company a “buy” rating in a research report on Wednesday, April 19th. Rafferty Capital Markets downgraded Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Thursday, April 20th. UBS AG restated a “sell” rating and issued a $13.00 price objective (down from $14.00) on shares of Regions Financial Corporation in a research report on Saturday, April 22nd. Finally, Wedbush downgraded Regions Financial Corporation from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Monday, May 1st. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.21.

In related news, EVP Fournier J. Gale III sold 35,825 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total value of $522,686.75. Following the completion of the sale, the executive vice president now owns 109,318 shares in the company, valued at approximately $1,594,949.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $14.95, for a total transaction of $971,750.00. Following the completion of the sale, the chief financial officer now owns 121,160 shares of the company’s stock, valued at approximately $1,811,342. The disclosure for this sale can be found here. In the last three months, insiders sold 124,514 shares of company stock worth $1,846,733. 0.52% of the stock is currently owned by company insiders.

Regions Financial Corporation Company Profile

Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RF).

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

Receive News & Ratings for Regions Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.