Regions Financial Corporation $RF Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in shares of Regions Financial Corporation (NYSE:RF) by 58.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,351 shares of the bank’s stock after selling 462,504 shares during the period. Bank of Nova Scotia’s holdings in Regions Financial were worth $8,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Regions Financial Trading Down 0.1%

NYSE RF opened at $30.82 on Monday. The stock has a market capitalization of $26.31 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The firm has a 50-day moving average price of $29.36 and a 200 day moving average price of $28.37. 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 (NYSE:RF) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts expect that Regions Financial Corporation will post 2.62 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. Regions Financial’s dividend payout ratio (DPR) is currently 43.27%.

Wall Street Analyst Weigh In

RF has been the subject of several research analyst reports. UBS Group increased their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Truist Financial upped their price target on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Robert W. Baird reiterated an “underperform” rating and set a $28.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods raised their price target on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Six 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. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average target price of $32.21.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

About Regions Financial

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.