SG Americas Securities LLC Reduces Stake in Regions Financial Corporation $RF

SG Americas Securities LLC reduced its stake in shares of Regions Financial Corporation (NYSE:RF) by 46.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 413,029 shares of the bank’s stock after selling 357,840 shares during the period. SG Americas Securities LLC’s holdings in Regions Financial were worth $10,788,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Root Financial Partners LLC lifted its stake in Regions Financial by 3.9% in the fourth quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after purchasing an additional 346 shares during the last quarter. Van ECK Associates Corp increased its position in Regions Financial by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after buying an additional 373 shares during the last quarter. Lcnb Corp increased its position in Regions Financial by 3.8% in the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock worth $291,000 after buying an additional 390 shares during the last quarter. West Paces Advisors Inc. raised its stake in shares of Regions Financial by 4.0% in the fourth quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock valued at $285,000 after buying an additional 405 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of Regions Financial by 3.7% in the fourth quarter. Inspire Investing LLC now owns 12,455 shares of the bank’s stock valued at $338,000 after buying an additional 439 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE RF opened at $30.09 on Friday. The company’s 50 day simple moving average is $28.16 and its two-hundred day simple moving average is $27.89. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $31.53. The stock has a market capitalization of $25.68 billion, a PE ratio of 12.54, a P/E/G ratio of 1.14 and a beta of 1.00.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts predict that Regions Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.5%. Regions Financial’s dividend payout ratio (DPR) is 44.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RF shares. Brean Capital began coverage on Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating for the company. DA Davidson increased their target price on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Truist Financial reiterated a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. Stephens assumed coverage on shares of Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a report on Tuesday, March 3rd. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.73.

Insider Buying and Selling

In other news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.