Mediolanum International Funds Ltd Sells 39,040 Shares of Regions Financial Corporation $RF

Mediolanum International Funds Ltd reduced its stake in shares of Regions Financial Corporation (NYSE:RF) by 38.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,225 shares of the bank’s stock after selling 39,040 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Regions Financial were worth $1,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RF. Empowered Funds LLC increased its position in shares of Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares during the period. Woodline Partners LP boosted its position in Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after acquiring an additional 22,216 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Regions Financial by 0.7% during the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after acquiring an additional 511 shares during the period. Federated Hermes Inc. grew its holdings in shares of Regions Financial by 81.2% during the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after acquiring an additional 5,233 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Regions Financial by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after acquiring an additional 6,690 shares in the last quarter. 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 the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Regions Financial Stock Down 0.9%

RF stock opened at $30.82 on Wednesday. The business has a 50 day moving average of $29.11 and a 200 day moving average of $28.30. The firm has a market cap of $26.31 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. 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 released its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RF shares. Stephens began coverage on Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price for the company. Evercore reiterated an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research report on Friday. Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday. Finally, Truist Financial boosted their target price on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.21.

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.