GAM Holding AG Has $748,000 Stake in Regions Financial Corporation (NYSE:RF)

GAM Holding AG trimmed its position in shares of Regions Financial Corporation (NYSE:RF) by 49.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,438 shares of the bank’s stock after selling 33,625 shares during the period. GAM Holding AG’s holdings in Regions Financial were worth $748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the period. Geode Capital Management LLC increased its position in Regions Financial by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after buying an additional 403,283 shares during the period. First Trust Advisors LP lifted its holdings in shares of Regions Financial by 7.7% during the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock worth $401,097,000 after buying an additional 1,224,645 shares during the last quarter. Invesco Ltd. boosted its position in shares of Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during the period. Finally, Norges Bank acquired a new stake in shares of Regions Financial in the fourth quarter worth $279,103,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RF has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. The Goldman Sachs Group cut their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Cowen assumed coverage on Regions Financial in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. Citigroup cut their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of Regions Financial in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.80.

Regions Financial Stock Up 1.0%

RF opened at $22.18 on Friday. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 1.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50-day simple moving average is $21.18 and its 200-day simple moving average is $22.46. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. During the same period in the prior year, the firm earned $0.37 earnings per share. Equities research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial’s dividend payout ratio is currently 48.08%.

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.