Seven Eight Capital LP Sells 10,488 Shares of Regions Financial Co. (NYSE:RF)

Seven Eight Capital LP cut its holdings in shares of Regions Financial Co. (NYSE:RF) by 44.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,357 shares of the bank’s stock after selling 10,488 shares during the period. Seven Eight Capital LP’s holdings in Regions Financial were worth $268,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cincinnati Insurance Co. bought a new position in Regions Financial in the first quarter valued at about $74,606,000. Vanguard Group Inc. lifted its stake in shares of Regions Financial by 2.7% in the 4th 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 boosted its holdings in shares of Regions Financial by 3.6% in 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 during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Regions Financial during the first quarter valued at approximately $33,829,000. Finally, Dimensional Fund Advisors LP increased its holdings in Regions Financial by 7.4% during the second 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 during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RF. Keefe, Bruyette & Woods dropped their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Citigroup lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group upped their price target on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Evercore ISI lowered their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company increased their target price on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.69.

Regions Financial Stock Performance

Shares of NYSE RF opened at $22.91 on Tuesday. The company has a market cap of $20.98 billion, a P/E ratio of 12.45, a P/E/G ratio of 2.82 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 company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s fifty day moving average is $22.12 and its two-hundred day moving average is $20.45.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. As a group, analysts anticipate that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, September 3rd. 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.