SeaBridge Investment Advisors LLC Has $3.64 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

SeaBridge Investment Advisors LLC cut its holdings in Regions Financial Co. (NYSE:RF) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 180,146 shares of the bank’s stock after selling 38,455 shares during the quarter. Regions Financial makes up 1.2% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 26th largest position. SeaBridge Investment Advisors LLC’s holdings in Regions Financial were worth $3,635,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Concord Wealth Partners increased its stake in shares of Regions Financial by 1,538.3% in the first quarter. Concord Wealth Partners now owns 1,327 shares of the bank’s stock valued at $27,000 after buying an additional 1,246 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Regions Financial in the first quarter worth about $33,000. E Fund Management Co. Ltd. acquired a new stake in Regions Financial in the first quarter worth about $35,000. Allred Capital Management LLC acquired a new stake in Regions Financial in the first quarter worth about $36,000. Finally, Altshuler Shaham Ltd acquired a new stake in Regions Financial in the first quarter worth about $37,000. Institutional investors own 73.07% of the company’s stock.

Shares of NYSE:RF traded up $0.27 during trading on Wednesday, hitting $19.72. 175,524 shares of the company were exchanged, compared to its average volume of 8,006,428. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 7.69, a P/E/G ratio of 1.15 and a beta of 1.52. Regions Financial Co. has a fifty-two week low of $10.60 and a fifty-two week high of $23.81. The firm has a fifty day moving average price of $19.76 and a two-hundred day moving average price of $20.83. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Thursday, July 22nd. The bank reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.24. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.55 billion. Regions Financial had a return on equity of 15.63% and a net margin of 38.28%. During the same quarter in the previous year, the firm earned ($0.25) EPS. As a group, research analysts predict that Regions Financial Co. will post 2.42 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, September 2nd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.45%. Regions Financial’s payout ratio is presently 59.62%.

A number of analysts recently commented on RF shares. Raymond James lowered Regions Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 8th. Keefe, Bruyette & Woods lowered Regions Financial from an “outperform” rating to an “underperform” rating and set a $18.00 price objective for the company. in a research report on Wednesday, July 7th. Stephens cut Regions Financial from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $23.00 to $22.00 in a report on Wednesday, September 8th. Citigroup initiated coverage on Regions Financial in a report on Friday, July 16th. They set a “hold” rating and a $19.29 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating and set a $19.29 target price (down previously from $24.00) on shares of Regions Financial in a report on Monday, July 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.84.

About Regions Financial

Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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