Regions Financial Corporation $RF Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in Regions Financial Corporation (NYSE:RF) by 20.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,396 shares of the bank’s stock after selling 16,137 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Regions Financial were worth $1,682,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swiss Life Asset Management Ltd increased its stake in Regions Financial by 244.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock valued at $61,135,000 after buying an additional 1,600,926 shares during the period. Interval Partners LP lifted its stake in shares of Regions Financial by 30.5% in the 3rd quarter. Interval Partners LP now owns 786,307 shares of the bank’s stock worth $20,735,000 after acquiring an additional 183,694 shares during the period. Waterloo Capital L.P. lifted its stake in shares of Regions Financial by 123.7% in the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock worth $3,683,000 after acquiring an additional 75,149 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Regions Financial by 108.0% in the fourth quarter. Sanctuary Advisors LLC now owns 675,296 shares of the bank’s stock valued at $18,301,000 after acquiring an additional 350,599 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Regions Financial by 148.4% in the fourth quarter. iA Global Asset Management Inc. now owns 129,823 shares of the bank’s stock valued at $3,518,000 after acquiring an additional 77,567 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction of $195,760.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RF shares. Piper Sandler cut their price target on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 30th. Royal Bank Of Canada lifted their price objective on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Truist Financial reiterated a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Morgan Stanley boosted their target price on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Wells Fargo & Company raised their price target on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.16.

Regions Financial Stock Performance

NYSE:RF opened at $31.04 on Friday. The firm’s fifty day simple moving average is $28.61 and its 200-day simple moving average is $28.11. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a market cap of $26.49 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $31.53.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 earnings per share. Analysts expect that Regions Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.265 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.4%. Regions Financial’s dividend payout ratio (DPR) is 44.17%.

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.