Bangor Savings Bank Sells 603 Shares of Regions Financial Co. (NYSE:RF)

Bangor Savings Bank trimmed its stake in Regions Financial Co. (NYSE:RF) by 24.8% during the 1st quarter, HoldingsChannel reports. The fund owned 1,830 shares of the bank’s stock after selling 603 shares during the quarter. Bangor Savings Bank’s holdings in Regions Financial were worth $40,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Prossimo Advisors LLC boosted its holdings in Regions Financial by 2.3% in the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock worth $453,000 after acquiring an additional 430 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in Regions Financial by 2.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock worth $456,000 after acquiring an additional 436 shares in the last quarter. Lido Advisors LLC boosted its holdings in Regions Financial by 2.6% in the fourth quarter. Lido Advisors LLC now owns 22,291 shares of the bank’s stock worth $530,000 after acquiring an additional 558 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Regions Financial by 20.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,316 shares of the bank’s stock worth $86,000 after acquiring an additional 567 shares in the last quarter. Finally, Dean Capital Management boosted its holdings in Regions Financial by 0.8% in the fourth quarter. Dean Capital Management now owns 73,151 shares of the bank’s stock worth $1,721,000 after acquiring an additional 593 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Up 3.6%

RF stock opened at $22.08 on Monday. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The business’s 50-day moving average is $20.66 and its two-hundred day moving average is $22.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $19.85 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.93 and a beta of 0.96.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial’s payout ratio is 48.08%.

Analyst Upgrades and Downgrades

Several research firms have commented on RF. Cowen began coverage on Regions Financial in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. Stephens reaffirmed an “overweight” rating and set a $24.00 price target on shares of Regions Financial in a report on Tuesday, June 3rd. TD Cowen assumed coverage on Regions Financial in a report on Thursday, May 15th. They set a “buy” rating and a $31.00 price target on the stock. Barclays lowered their price target on Regions Financial from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company lowered their price target on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.80.

Insiders Place Their Bets

In related news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.