Regions Financial Corporation $RF Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC cut its holdings in Regions Financial Corporation (NYSE:RF) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 904,083 shares of the bank’s stock after selling 74,277 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Regions Financial were worth $23,841,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American National Bank & Trust lifted its stake in Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock valued at $25,000 after buying an additional 1,022 shares in the last quarter. CVA Family Office LLC increased its position in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after buying an additional 656 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial in the second quarter worth $25,000. FNY Investment Advisers LLC acquired a new position in shares of Regions Financial in the second quarter worth $30,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Regions Financial in the second quarter valued at $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RF has been the subject of a number of recent research reports. Barclays lifted their price objective on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Regions Financial from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Finally, Truist Financial boosted their price target on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.93.

Regions Financial Price Performance

RF opened at $28.27 on Tuesday. The company’s 50 day simple moving average is $26.41 and its 200 day simple moving average is $25.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $29.25. The stock has a market capitalization of $24.79 billion, a PE ratio of 12.45, a P/E/G ratio of 1.02 and a beta of 1.03.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 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%. As a group, sell-side analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, December 1st. Regions Financial’s dividend payout ratio (DPR) is 46.70%.

Regions Financial announced that its Board of Directors has approved a stock buyback program on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to repurchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Regions Financial

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.