Dana Investment Advisors Inc. Sells 3,435 Shares of Regions Financial Co. (NYSE:RF)

Dana Investment Advisors Inc. decreased its holdings in shares of Regions Financial Co. (NYSE:RF) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,889 shares of the bank’s stock after selling 3,435 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Regions Financial were worth $2,663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cincinnati Insurance Co. acquired a new stake in shares of Regions Financial in the first quarter valued at approximately $74,606,000. Vanguard Group Inc. lifted its position in Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. Wellington Management Group LLP grew its stake in Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after buying an additional 1,951,026 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Regions Financial in the 1st quarter valued at about $33,829,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after buying an additional 979,597 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

RF has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $23.00 to $28.00 in a research note on Tuesday, September 24th. Morgan Stanley upped their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada raised their price objective on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $22.36.

Regions Financial Price Performance

Shares of RF opened at $22.56 on Thursday. The firm has a market cap of $20.66 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $23.47. The business’s 50 day moving average price is $22.21 and its two-hundred day moving average price is $20.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. On average, equities analysts anticipate that Regions Financial Co. will post 2.01 EPS for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.43%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is currently 54.35%.

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.