Strategic Global Advisors LLC Lowers Position in Regions Financial Co. (NYSE:RF)

Strategic Global Advisors LLC cut its stake in Regions Financial Co. (NYSE:RFFree Report) by 42.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,336 shares of the bank’s stock after selling 41,067 shares during the period. Strategic Global Advisors LLC’s holdings in Regions Financial were worth $1,092,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RF. Avantax Advisory Services Inc. bought a new stake in shares of Regions Financial during the third quarter valued at approximately $176,000. Van ECK Associates Corp grew its position in Regions Financial by 4.9% in the 3rd quarter. Van ECK Associates Corp now owns 23,375 shares of the bank’s stock worth $402,000 after purchasing an additional 1,098 shares during the period. Pathstone Family Office LLC grew its position in Regions Financial by 187.8% in the 3rd quarter. Pathstone Family Office LLC now owns 67,838 shares of the bank’s stock worth $1,169,000 after purchasing an additional 44,263 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Regions Financial in the 3rd quarter worth approximately $448,000. Finally, State of New Jersey Common Pension Fund D grew its position in Regions Financial by 1.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 422,408 shares of the bank’s stock worth $7,265,000 after purchasing an additional 7,457 shares during the period. Institutional investors own 79.39% of the company’s stock.

Insiders Place Their Bets

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Regions Financial Stock Down 2.2 %

Shares of RF stock opened at $18.20 on Tuesday. The stock has a market cap of $16.67 billion, a P/E ratio of 9.89, a PEG ratio of 2.03 and a beta of 1.19. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $19.48 and its two-hundred day simple moving average is $18.98.

Regions Financial (NYSE:RFGet Free Report) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. Analysts predict that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.27%. The ex-dividend date is Monday, June 3rd. Regions Financial’s payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial cut their target price on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Piper Sandler lifted their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Evercore ISI lifted their target price on shares of Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Finally, Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.34.

Read Our Latest Stock Analysis on Regions Financial

Regions Financial Profile

(Free Report)

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.

See Also

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

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