Edgestream Partners L.P. Sells 106,800 Shares of Regions Financial Co. (NYSE:RF)

Edgestream Partners L.P. cut its holdings in Regions Financial Co. (NYSE:RF) by 76.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,653 shares of the bank’s stock after selling 106,800 shares during the period. Edgestream Partners L.P.’s holdings in Regions Financial were worth $687,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Whittier Trust Co. boosted its holdings in Regions Financial by 16.5% in the 4th quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock valued at $75,000 after purchasing an additional 549 shares during the period. HB Wealth Management LLC boosted its holdings in Regions Financial by 0.6% in the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after purchasing an additional 551 shares during the period. CWM LLC boosted its holdings in Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares during the period. Perigon Wealth Management LLC boosted its holdings in Regions Financial by 2.8% in the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares during the period. Finally, Signet Financial Management LLC raised its position in shares of Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after buying an additional 584 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RF shares. Jefferies Financial Group raised their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Truist Financial raised their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Monday. Evercore ISI decreased their target price on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company lifted their target price on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.45.

Regions Financial Trading Up 0.8 %

Shares of RF traded up $0.18 during trading hours on Wednesday, reaching $22.57. 1,786,494 shares of the company traded hands, compared to its average volume of 8,198,047. The company’s fifty day moving average price is $19.69 and its two-hundred day moving average price is $19.36. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 2.53 and a beta of 1.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $22.84.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Equities research analysts predict that Regions Financial Co. will post 1.98 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.43%. Regions Financial’s payout ratio is presently 52.17%.

Insider Activity

In other Regions Financial news, 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 value of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Regions Financial Company 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.