Sterling Capital Management LLC Sells 23,213 Shares of Regions Financial Corporation $RF

Sterling Capital Management LLC decreased its holdings in Regions Financial Corporation (NYSE:RF) by 44.3% in the first quarter, HoldingsChannel.com reports. The fund owned 29,219 shares of the bank’s stock after selling 23,213 shares during the period. Sterling Capital Management LLC’s holdings in Regions Financial were worth $763,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in RF. Darwin Wealth Management LLC bought a new position in Regions Financial in the 2nd quarter worth $25,000. SouthState Bank Corp boosted its stake in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after purchasing an additional 538 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Regions Financial by 91.5% during 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 in the last quarter. Princeton Global Asset Management LLC increased its position in shares of Regions Financial by 260.4% during 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 period. Finally, Leonteq Securities AG purchased a new position in shares of Regions Financial during the fourth quarter valued at about $33,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE:RF opened at $30.78 on Thursday. The business has a fifty day moving average price of $28.30 and a 200-day moving average price of $27.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $26.27 billion, a PE ratio of 12.82, a PEG ratio of 1.15 and a beta of 1.00. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year 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 company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. Regions Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. As a group, equities analysts expect that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.265 per share. The ex-dividend date was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.4%. Regions Financial’s dividend payout ratio is presently 44.17%.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RF shares. Morgan Stanley increased their price target on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday. Stephens began coverage on Regions Financial in a report on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price on the stock. Piper Sandler decreased their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 30th. Truist Financial restated a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada lifted their price target on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.80.

Regions Financial Company Profile

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.