Regions Financial Corporation $RF Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in shares of Regions Financial Corporation (NYSE:RF) by 20.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,396 shares of the bank’s stock after selling 16,137 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Regions Financial were worth $1,682,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Regions Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock worth $862,792,000 after buying an additional 215,061 shares during the period. Victory Capital Management Inc. lifted its stake in Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after acquiring an additional 9,312,449 shares during the last quarter. Invesco Ltd. grew its holdings in Regions Financial by 3.1% during the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after acquiring an additional 573,659 shares in the last quarter. Morgan Stanley grew its holdings in Regions Financial by 1.3% during the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock worth $497,459,000 after acquiring an additional 231,924 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Regions Financial in the 4th quarter valued at approximately $254,564,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RF shares. Robert W. Baird restated an “underperform” rating and issued a $28.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Wells Fargo & Company increased their target price on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Truist Financial reissued a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Royal Bank Of Canada raised their price target on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Finally, Morgan Stanley lifted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.16.

Regions Financial Stock Up 1.5%

RF stock opened at $31.04 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $31.53. The company’s 50 day moving average is $28.61 and its two-hundred day moving average is $28.11. The stock has a market cap of $26.49 billion, a P/E ratio of 12.94, a PEG ratio of 1.18 and a beta of 1.00.

Regions Financial (NYSE:RF) last issued its quarterly earnings data 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. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. Research analysts expect that Regions Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

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

Insiders Place Their Bets

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company 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.