Crossmark Global Holdings Inc. Sells 4,622 Shares of Regions Financial Co. (NYSE:RF)

Crossmark Global Holdings Inc. reduced its stake in shares of Regions Financial Co. (NYSE:RF) by 0.8% in the third quarter, HoldingsChannel.com reports. The fund owned 541,485 shares of the bank’s stock after selling 4,622 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Regions Financial were worth $12,633,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new stake in Regions Financial in the first quarter worth $26,000. American National Bank & Trust increased its position in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,114 shares during the period. Quarry LP increased its position in shares of Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,256 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Regions Financial in the second quarter valued at about $32,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Performance

RF stock traded up $0.21 during midday trading on Friday, reaching $25.62. 6,487,977 shares of the company’s stock traded hands, compared to its average volume of 8,398,264. Regions Financial Co. has a 52-week low of $14.86 and a 52-week high of $26.33. The stock has a market cap of $23.28 billion, a P/E ratio of 14.47, a PEG ratio of 2.75 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average is $23.27 and its 200 day moving average is $21.36.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, analysts anticipate that Regions Financial Co. will post 2.1 EPS for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.90%. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Wall Street Analyst Weigh In

RF has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Citigroup upped their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and an average price target of $25.45.

Regions Financial Profile

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.