Proffitt & Goodson Inc. Has $97,000 Stock Holdings in Regions Financial Corporation $RF

Proffitt & Goodson Inc. grew its position in shares of Regions Financial Corporation (NYSE:RF) by 19.6% during the second quarter, HoldingsChannel.com reports. The firm owned 4,133 shares of the bank’s stock after purchasing an additional 676 shares during the period. Proffitt & Goodson Inc.’s holdings in Regions Financial were worth $97,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American National Bank & Trust increased its holdings in shares of Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,022 shares in the last quarter. Bayforest Capital Ltd boosted its position in shares of Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after buying an additional 1,058 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Regions Financial during the first quarter valued at approximately $36,000. Grove Bank & Trust boosted its position in shares of Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock valued at $41,000 after buying an additional 814 shares during the last quarter. Finally, Groupe la Francaise purchased a new position in shares of Regions Financial during the first quarter valued at approximately $41,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Regions Financial in a research report on Saturday, September 27th. Evercore ISI boosted their price objective on Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Morgan Stanley set a $32.00 price target on Regions Financial in a research report on Monday, September 29th. Finally, Cantor Fitzgerald assumed coverage on Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.89.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $25.75 on Wednesday. The firm has a market capitalization of $22.97 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.48 and a beta of 1.02. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The business’s 50-day moving average price is $26.32 and its 200-day moving average price is $23.54. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business posted $0.52 EPS. Regions Financial’s quarterly revenue was up 10.1% compared to the same quarter last year. Sell-side analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, September 2nd. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s dividend payout ratio (DPR) is 49.30%.

Insider Buying and Selling

In other Regions Financial news, Director Roger W. Jenkins bought 4,000 shares of Regions Financial stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $25.48 per share, with a total value of $101,920.00. Following the acquisition, the director owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the sale, the executive vice president owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

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.