First Horizon Corp Grows Stake in Regions Financial Corporation $RF

First Horizon Corp boosted its stake in shares of Regions Financial Corporation (NYSE:RF) by 1,963.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,017 shares of the bank’s stock after acquiring an additional 25,708 shares during the quarter. First Horizon Corp’s holdings in Regions Financial were worth $706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RF. Kestra Advisory Services LLC lifted its stake in shares of Regions Financial by 15.3% in the 1st quarter. Kestra Advisory Services LLC now owns 79,403 shares of the bank’s stock valued at $2,074,000 after purchasing an additional 10,516 shares during the last quarter. Resonant Capital Advisors LLC increased its position in shares of Regions Financial by 3.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 25,952 shares of the bank’s stock valued at $684,000 after purchasing an additional 801 shares during the last quarter. Swedbank AB increased its position in shares of Regions Financial by 0.8% during the 1st quarter. Swedbank AB now owns 771,580 shares of the bank’s stock valued at $20,154,000 after purchasing an additional 6,151 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in Regions Financial during the 1st quarter valued at $216,000. Finally, Whittier Trust Co. raised its holdings in Regions Financial by 9.7% during the 1st quarter. Whittier Trust Co. now owns 8,227 shares of the bank’s stock valued at $220,000 after buying an additional 729 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Evercore reaffirmed an “underperform” rating and set a $31.00 price objective on shares of Regions Financial in a research note on Monday. Royal Bank Of Canada increased their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Robert W. Baird reaffirmed an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Piper Sandler cut their price target on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. Finally, DA Davidson lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $33.00 in a research report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.16.

Insider Activity at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Regions Financial Stock Up 1.5%

NYSE:RF opened at $31.04 on Friday. The company has a market cap of $26.49 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $28.61 and a 200-day simple moving average of $28.11.

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

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, June 1st. Regions Financial’s dividend payout ratio is currently 44.17%.

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.