AlphaQuest LLC Sells 28,808 Shares of Regions Financial Corporation $RF

AlphaQuest LLC cut its stake in Regions Financial Corporation (NYSE:RF) by 15.8% during the fourth quarter, HoldingsChannel reports. The firm owned 153,885 shares of the bank’s stock after selling 28,808 shares during the period. AlphaQuest LLC’s holdings in Regions Financial were worth $4,170,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of Regions Financial in the second quarter worth about $25,000. United Community Bank purchased a new position in Regions Financial during the 3rd quarter valued at about $30,000. Spire Wealth Management increased its position in Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC increased its position in Regions Financial by 260.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after purchasing an additional 854 shares during the period. Finally, Leonteq Securities AG purchased a new position in Regions Financial during the 4th quarter valued at about $33,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on RF. Brean Capital began coverage on shares of Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating on the stock. Piper Sandler cut their target price on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. Truist Financial reissued a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Finally, DA Davidson raised their target price on shares of Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.47.

Regions Financial Stock Up 0.1%

RF stock opened at $27.87 on Tuesday. The firm has a 50 day moving average of $27.01 and a 200 day moving average of $27.31. The stock has a market capitalization of $23.78 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 52 week low of $20.79 and a 52 week high of $31.53.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating 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 business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the business posted $0.54 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.

Insider Activity

In related news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by corporate insiders.

Regions Financial 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.