Huber Capital Management LLC Sells 27,400 Shares of Regions Financial Co. (NYSE:RF)

Huber Capital Management LLC lessened its holdings in Regions Financial Co. (NYSE:RF) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,545 shares of the bank’s stock after selling 27,400 shares during the quarter. Huber Capital Management LLC’s holdings in Regions Financial were worth $3,738,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Regions Financial during the 1st quarter worth about $26,000. ICA Group Wealth Management LLC bought a new stake in Regions Financial during the fourth quarter worth about $28,000. MV Capital Management Inc. boosted its position in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Regions Financial in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RF shares. Citigroup upped their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Royal Bank of Canada boosted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley raised their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company boosted their price target on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.69.

Regions Financial Price Performance

NYSE:RF opened at $23.11 on Friday. 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 50-day simple moving average is $22.08 and its 200 day simple moving average is $20.41. The firm has a market cap of $21.16 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 2.82 and a beta of 1.17.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm’s quarterly revenue 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, sell-side analysts predict that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The business 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 represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is presently 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.