Chevy Chase Trust Holdings LLC Has $12.43 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Chevy Chase Trust Holdings LLC trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,723 shares of the bank’s stock after selling 7,910 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Regions Financial worth $12,429,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S increased its position in Regions Financial by 117.0% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 32,821 shares of the bank’s stock worth $691,000 after purchasing an additional 17,698 shares in the last quarter. Cincinnati Casualty Co. acquired a new position in Regions Financial during the 1st quarter worth approximately $788,000. Cincinnati Insurance Co. acquired a new position in Regions Financial during the 1st quarter worth approximately $74,606,000. Cincinnati Specialty Underwriters Insurance CO bought a new stake in Regions Financial during the 1st quarter worth approximately $1,867,000. Finally, CSU Producer Resources Inc. bought a new stake in Regions Financial during the 1st quarter worth approximately $706,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director William C. Rhodes III acquired 50,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at $968,500. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The shares were acquired at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Regions Financial Stock Performance

Shares of NYSE:RF traded up $0.03 during midday trading on Wednesday, reaching $20.14. The company had a trading volume of 2,477,580 shares, compared to its average volume of 7,988,308. The company’s 50 day moving average price is $19.33 and its 200 day moving average price is $19.20. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market cap of $18.44 billion, a P/E ratio of 10.93, a P/E/G ratio of 2.16 and a beta of 1.18. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $21.08.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. As a group, sell-side analysts anticipate that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 5th. Truist Financial increased their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Monday. Morgan Stanley lowered their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Finally, Evercore ISI lowered their price objective on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.39.

Regions Financial Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.