Regions Financial Corp (NYSE:RF) Shares Sold by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. lowered its position in shares of Regions Financial Corp (NYSE:RF) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,340 shares of the bank’s stock after selling 2,250 shares during the quarter. Regions Financial makes up approximately 1.0% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 27th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Regions Financial were worth $1,398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RF. Nuveen Asset Management LLC boosted its position in Regions Financial by 3,639.1% during the second quarter. Nuveen Asset Management LLC now owns 6,056,945 shares of the bank’s stock worth $90,490,000 after acquiring an additional 5,894,957 shares during the last quarter. Invesco Ltd. boosted its position in Regions Financial by 68.9% during the second quarter. Invesco Ltd. now owns 10,444,676 shares of the bank’s stock worth $156,043,000 after acquiring an additional 4,259,901 shares during the last quarter. Bank of America Corp DE boosted its position in Regions Financial by 20.6% during the second quarter. Bank of America Corp DE now owns 12,704,955 shares of the bank’s stock worth $189,812,000 after acquiring an additional 2,172,240 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Regions Financial during the second quarter worth approximately $22,677,000. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Regions Financial by 68.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,992,292 shares of the bank’s stock worth $42,341,000 after acquiring an additional 1,219,011 shares during the last quarter. Hedge funds and other institutional investors own 71.60% of the company’s stock.

A number of brokerages recently issued reports on RF. Bank of America lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $16.00 in a research report on Thursday, July 11th. ValuEngine raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $15.00 to $17.00 in a research note on Monday, July 22nd. Raymond James set a $18.50 price target on shares of Regions Financial and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Citigroup downgraded shares of Regions Financial from a “neutral” rating to a “sell” rating and cut their price target for the stock from $16.00 to $14.00 in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.74.

In related news, COO John B. Owen sold 40,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $14.63, for a total transaction of $585,200.00. Following the completion of the sale, the chief operating officer now directly owns 87,152 shares of the company’s stock, valued at approximately $1,275,033.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $14.68, for a total transaction of $104,932.64. Following the sale, the insider now directly owns 34,482 shares of the company’s stock, valued at $506,195.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,436 shares of company stock valued at $2,024,102. Company insiders own 0.28% of the company’s stock.

Shares of RF stock traded up $0.25 during mid-day trading on Tuesday, reaching $16.32. The company’s stock had a trading volume of 11,144,503 shares, compared to its average volume of 8,842,462. The company’s 50 day simple moving average is $15.58 and its 200-day simple moving average is $15.00. Regions Financial Corp has a 12-month low of $12.39 and a 12-month high of $17.88. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $15.73 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.56 and a beta of 1.55.

Regions Financial (NYSE:RF) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Regions Financial Corp will post 1.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, December 5th. Regions Financial’s dividend payout ratio is presently 45.59%.

Regions Financial announced that its board has authorized a share buyback plan on Thursday, June 27th that permits the company to buyback $1.37 billion in shares. This buyback authorization permits the bank to repurchase up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Regions Financial Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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

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