BCS Wealth Management Cuts Stake in Regions Financial Corporation $RF

BCS Wealth Management lessened its position in Regions Financial Corporation (NYSE:RF) by 50.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,455 shares of the bank’s stock after selling 18,491 shares during the period. BCS Wealth Management’s holdings in Regions Financial were worth $482,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of Regions Financial by 7.2% during the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after purchasing an additional 1,278 shares in the last quarter. Woodline Partners LP grew its stake in shares of Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after purchasing an additional 22,216 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Regions Financial by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after purchasing an additional 511 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after purchasing an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Regions Financial by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after purchasing an additional 6,690 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction dated Thursday, May 7th. The stock was 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 accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on RF shares. Piper Sandler decreased their price objective 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. Morgan Stanley dropped their price objective on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. 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. JPMorgan Chase & Co. dropped their price target on Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, DA Davidson lifted their price target on Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.73.

Regions Financial Trading Up 0.6%

Regions Financial stock opened at $29.47 on Thursday. The stock has a 50-day moving average price of $28.07 and a 200 day moving average price of $27.85. Regions Financial Corporation has a 52 week low of $22.69 and a 52 week high of $31.53. The stock has a market cap of $25.15 billion, a PE ratio of 12.28, a P/E/G ratio of 1.11 and a beta of 1.00. 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 (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Equities research analysts predict that Regions Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm 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 yield of 3.6%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio is presently 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.