Crossmark Global Holdings Inc. Sells 34,600 Shares of Regions Financial Corporation $RF

Crossmark Global Holdings Inc. lowered its stake in Regions Financial Corporation (NYSE:RF) by 7.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 447,189 shares of the bank’s stock after selling 34,600 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Regions Financial were worth $12,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Regions Financial by 8.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after buying an additional 165,527 shares during the period. Bank of America Corp DE purchased a new stake in Regions Financial during the second quarter worth about $219,068,000. Envestnet Asset Management Inc. lifted its position in shares of Regions Financial by 433.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank’s stock worth $64,324,000 after purchasing an additional 1,730,874 shares in the last quarter. Raiffeisen Bank International AG lifted its position in shares of Regions Financial by 7,509.2% during the second quarter. Raiffeisen Bank International AG now owns 48,623 shares of the bank’s stock worth $1,472,000 after purchasing an additional 47,984 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Regions Financial during the second quarter worth about $26,043,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RF has been the subject of several recent research reports. Wall Street Zen raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Evercore reaffirmed an “underperform” rating and set a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a research note on Wednesday. Royal Bank Of Canada decreased their price target on shares of Regions Financial from $34.00 to $32.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial has an average rating of “Hold” and a consensus price target of $31.12.

Regions Financial Trading Up 1.1%

NYSE RF opened at $28.37 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.36. Regions Financial Corporation has a 52 week low of $23.59 and a 52 week high of $32.47. The stock has a market capitalization of $24.17 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.13 and a beta of 1.05. The firm has a 50 day moving average of $28.83 and a two-hundred day moving average of $29.05.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 16th. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Regions Financial Corporation will post 2.70 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Regions Financial’s payout ratio is 47.06%.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.