iA Global Asset Management Inc. Decreases Stock Holdings in Regions Financial Co. (NYSE:RF)

iA Global Asset Management Inc. trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 18.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,305 shares of the bank’s stock after selling 3,070 shares during the quarter. iA Global Asset Management Inc.’s holdings in Regions Financial were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Regions Financial during the first quarter valued at $26,000. Laurel Wealth Advisors LLC grew its holdings in 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 during the period. ICA Group Wealth Management LLC bought a new position in Regions Financial during the fourth quarter valued at $28,000. Glassman Wealth Services grew its holdings in 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 during the period. Finally, MV Capital Management Inc. grew its holdings in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on RF shares. Piper Sandler increased their price objective on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Truist Financial raised their price target on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods cut their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Finally, Evercore ISI cut their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.51.

Regions Financial Price Performance

NYSE RF traded down $0.80 during trading hours on Friday, reaching $20.74. 4,031,530 shares of the stock traded hands, compared to its average volume of 8,180,861. The stock has a 50 day simple moving average of $20.05 and a two-hundred day simple moving average of $19.52. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $22.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 2.87 and a beta of 1.18.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, analysts predict that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.82%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s payout ratio is currently 52.17%.

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.