Regions Financial Corporation $RF Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its stake in shares of Regions Financial Corporation (NYSE:RF) by 17.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,466,493 shares of the bank’s stock after selling 1,158,693 shares during the period. Royal Bank of Canada owned approximately 0.64% of Regions Financial worth $142,785,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC purchased a new position in Regions Financial during the 2nd quarter valued at about $25,000. SouthState Bank Corp increased its stake in Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares during the period. Spire Wealth Management increased its stake in Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC lifted its position in shares of Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after purchasing an additional 854 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Regions Financial during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF opened at $30.85 on Friday. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47. The stock has a market capitalization of $26.33 billion, a PE ratio of 12.59, a PEG ratio of 1.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $29.65 and a 200-day simple moving average of $28.43.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.9%. Regions Financial’s dividend payout ratio (DPR) is presently 43.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Stephens assumed coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price objective for the company. Evercore reiterated an “underperform” rating and set a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Citigroup raised their price target on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Cantor Fitzgerald raised their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $32.00 price target on shares of Regions Financial in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.24.

Insider Activity at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.