Red Door Wealth Management LLC Sells 1,046 Shares of Regions Financial Co. (NYSE:RF)

Red Door Wealth Management LLC decreased its position in shares of Regions Financial Co. (NYSE:RF) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,671 shares of the bank’s stock after selling 1,046 shares during the period. Red Door Wealth Management LLC’s holdings in Regions Financial were worth $793,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RF. Laurel Wealth Advisors LLC grew its position in shares of Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after purchasing an additional 649 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Regions Financial during the fourth quarter valued at about $28,000. Sound Income Strategies LLC grew its position in shares of Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares in the last quarter. Glassman Wealth Services grew its position in shares of Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 shares in the last quarter. Finally, West Paces Advisors Inc. grew its position in shares of Regions Financial by 277.2% during the third quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,752 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 4.4 %

NYSE RF traded up $0.84 during trading on Friday, hitting $20.04. The company’s stock had a trading volume of 13,355,871 shares, compared to its average volume of 6,929,799. The company has a market cap of $18.35 billion, a PE ratio of 10.89, a P/E/G ratio of 2.19 and a beta of 1.19. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The business’s 50 day simple moving average is $19.29 and its 200-day simple moving average is $19.17.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, equities analysts anticipate that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.79%. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms recently commented on RF. Evercore ISI dropped their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Truist Financial dropped their price target on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.28.

About Regions Financial

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.