Edgestream Partners L.P. Trims Stock Position in Regions Financial Co. (NYSE:RF)

Edgestream Partners L.P. cut its holdings in shares of Regions Financial Co. (NYSE:RF) by 76.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,653 shares of the bank’s stock after selling 106,800 shares during the quarter. Edgestream Partners L.P.’s holdings in Regions Financial were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Regions Financial during the fourth quarter worth about $210,379,000. Cincinnati Insurance Co. acquired a new stake in Regions Financial during the first quarter worth about $74,606,000. Vanguard Group Inc. increased its stake in Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP increased its stake in Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after acquiring an additional 1,951,026 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Regions Financial during the first quarter worth about $33,829,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of NYSE RF traded up $0.18 during mid-day trading on Wednesday, hitting $22.57. The company had a trading volume of 1,786,494 shares, compared to its average volume of 8,198,047. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.53 and a beta of 1.18. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $22.84. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $19.69 and its two-hundred day simple moving average is $19.36.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business’s revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. As a group, equities research analysts forecast that Regions Financial Co. will post 1.98 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s payout ratio is 52.17%.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RF shares. Citigroup increased their target price on Regions Financial from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday. Truist Financial increased their target price on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday. Evercore ISI lowered their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Jefferies Financial Group increased their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Piper Sandler raised their price objective on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.45.

Regions Financial Company 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.