Regions Financial Co. (NYSE:RF) Holdings Increased by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in Regions Financial Co. (NYSE:RF) by 996.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,478 shares of the bank’s stock after purchasing an additional 254,909 shares during the quarter. SG Americas Securities LLC’s holdings in Regions Financial were worth $5,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RF. Comerica Bank raised its holdings in shares of Regions Financial by 313.5% in the 3rd quarter. Comerica Bank now owns 290,307 shares of the bank’s stock worth $4,993,000 after purchasing an additional 220,095 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Regions Financial in the 3rd quarter worth approximately $621,000. Public Sector Pension Investment Board raised its holdings in shares of Regions Financial by 5.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 217,512 shares of the bank’s stock worth $3,741,000 after purchasing an additional 11,754 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Regions Financial by 4.7% in the 3rd quarter. Deutsche Bank AG now owns 4,059,601 shares of the bank’s stock worth $69,825,000 after purchasing an additional 180,446 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Regions Financial by 15.8% in the 3rd quarter. American Century Companies Inc. now owns 2,302,905 shares of the bank’s stock worth $39,610,000 after purchasing an additional 314,255 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Down 1.2 %

RF stock traded down $0.24 during trading hours on Friday, hitting $20.47. The company’s stock had a trading volume of 11,522,580 shares, compared to its average volume of 6,773,682. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $18.75 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 2.37 and a beta of 1.18. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08. The stock has a 50 day moving average price of $19.39 and a two-hundred day moving average price of $19.23.

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

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Monday, June 3rd. Regions Financial’s payout ratio is 52.17%.

Insider Transactions at Regions Financial

In related news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director William C. Rhodes III acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a 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 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 sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on RF. Truist Financial boosted their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Morgan Stanley dropped their target price on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Piper Sandler lifted their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $20.39.

Regions Financial 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.