Andra AP fonden Reduces Holdings in Regions Financial Corporation $RF

Andra AP fonden decreased its position in shares of Regions Financial Corporation (NYSE:RF) by 28.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 160,314 shares of the bank’s stock after selling 64,023 shares during the quarter. Andra AP fonden’s holdings in Regions Financial were worth $4,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the 2nd quarter valued at approximately $25,000. SouthState Bank Corp boosted its position in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares in the last quarter. Spire Wealth Management grew its position in Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after buying an additional 557 shares during the period. Princeton Global Asset Management LLC grew its holdings in shares of Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after acquiring an additional 854 shares during the period. Finally, Leonteq Securities AG purchased a new position in shares of Regions Financial in the fourth quarter valued at $33,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 0.2%

RF stock opened at $30.87 on Thursday. The firm’s 50-day simple moving average is $29.20 and its 200 day simple moving average is $28.33. The stock has a market cap of $26.35 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $0.60 EPS. Regions Financial’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts predict that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. Regions Financial’s payout ratio is presently 43.27%.

Analyst Upgrades and Downgrades

RF has been the topic of a number of recent research reports. Citigroup upped their target price on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday. Stephens began coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price for the company. Morgan Stanley upped their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Truist Financial upped their price target on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Evercore reissued an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.21.

Insider Activity at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred 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 can be accessed through the SEC website. 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.