Regions Financial Corporation $RF Stake Lowered by Ethic Inc.

Ethic Inc. cut its stake in shares of Regions Financial Corporation (NYSE:RF) by 18.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,198 shares of the bank’s stock after selling 28,940 shares during the quarter. Ethic Inc.’s holdings in Regions Financial were worth $3,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Janney Montgomery Scott LLC grew its holdings in Regions Financial by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 76,306 shares of the bank’s stock worth $1,658,000 after buying an additional 802 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Regions Financial by 12.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 156,593 shares of the bank’s stock worth $3,403,000 after purchasing an additional 16,801 shares during the period. Oppenheimer & Co. Inc. lifted its position in Regions Financial by 390.1% in the first quarter. Oppenheimer & Co. Inc. now owns 70,436 shares of the bank’s stock worth $1,531,000 after purchasing an additional 56,065 shares during the period. Asset Management One Co. Ltd. lifted its position in Regions Financial by 10.3% in the first quarter. Asset Management One Co. Ltd. now owns 397,566 shares of the bank’s stock worth $8,639,000 after purchasing an additional 37,057 shares during the period. Finally, Perigon Wealth Management LLC increased its holdings in shares of Regions Financial by 1.6% in the first quarter. Perigon Wealth Management LLC now owns 94,990 shares of the bank’s stock valued at $2,064,000 after buying an additional 1,525 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Regions Financial news, Director Roger W. Jenkins acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. This trade represents a 167.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the sale, the executive vice president owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Trading Up 1.9%

Shares of NYSE:RF opened at $24.56 on Friday. The stock has a market capitalization of $21.92 billion, a PE ratio of 10.82, a P/E/G ratio of 1.24 and a beta of 1.02. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The firm has a fifty day moving average price of $26.10 and a 200 day moving average price of $23.83. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The firm had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. Analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.265 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a yield of 4.3%. Regions Financial’s dividend payout ratio is currently 46.70%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RF shares. Truist Financial dropped their price target on Regions Financial from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Monday, October 20th. Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday. Cantor Fitzgerald assumed coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 price target on the stock. Finally, Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus target price of $28.19.

Regions Financial Company 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.