Trustmark National Bank Trust Department Has $408,000 Stake in Regions Financial Co. (NYSE:RF)

Trustmark National Bank Trust Department trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 18.7% during the third quarter, Holdings Channel.com reports. The firm owned 17,491 shares of the bank’s stock after selling 4,025 shares during the period. Trustmark National Bank Trust Department’s holdings in Regions Financial were worth $408,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in 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 during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Regions Financial by 17.1% during the 2nd quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock valued at $59,421,000 after purchasing an additional 433,319 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Regions Financial by 12.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 2,343,629 shares of the bank’s stock valued at $46,966,000 after purchasing an additional 266,934 shares during the last quarter. Finally, National Pension Service increased its position in shares of Regions Financial by 6.3% during the 3rd quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after purchasing an additional 102,380 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RF shares. Citigroup raised their target price on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research note on Tuesday, October 29th. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $28.00 in a research note on Thursday, October 31st. Finally, Wedbush increased their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

Regions Financial Stock Performance

NYSE:RF opened at $26.74 on Friday. The stock has a market capitalization of $24.30 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.72 and a beta of 1.16. The stock has a 50-day moving average price of $23.85 and a 200 day moving average price of $21.74. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 12-month low of $15.79 and a 12-month high of $26.92.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. Equities research analysts forecast that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

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.