Sei Investments Co. Trims Stake in Regions Financial Corporation $RF

Sei Investments Co. cut its position in shares of Regions Financial Corporation (NYSE:RF) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,936,074 shares of the bank’s stock after selling 43,305 shares during the period. Sei Investments Co. owned about 0.23% of Regions Financial worth $50,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in RF. Swiss Life Asset Management Ltd increased its position in Regions Financial by 244.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock valued at $61,135,000 after purchasing an additional 1,600,926 shares during the period. Waterloo Capital L.P. lifted its position in shares of Regions Financial by 123.7% in the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock worth $3,683,000 after purchasing an additional 75,149 shares during the period. Evergreen Capital Management LLC purchased a new stake in shares of Regions Financial in the 4th quarter worth approximately $1,939,000. Sanctuary Advisors LLC boosted its stake in shares of Regions Financial by 108.0% during the fourth quarter. Sanctuary Advisors LLC now owns 675,296 shares of the bank’s stock valued at $18,301,000 after purchasing an additional 350,599 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in shares of Regions Financial by 148.4% during the fourth quarter. iA Global Asset Management Inc. now owns 129,823 shares of the bank’s stock valued at $3,518,000 after purchasing an additional 77,567 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RF. Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a report on Monday, July 20th. Piper Sandler dropped their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. JPMorgan Chase & Co. lifted their price target on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a report on Monday, July 6th. Wells Fargo & Company lifted their price target on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Citigroup boosted their price target on Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average price target of $32.21.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $30.82 on Friday. The company has a 50 day moving average price of $29.36 and a 200 day moving average price of $28.36. The firm has a market capitalization of $26.31 billion, a P/E ratio of 12.58, a PEG ratio of 1.18 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47.

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 the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. Regions Financial’s revenue was up .1% compared to the same quarter last year. Sell-side analysts expect that Regions Financial Corporation will post 2.62 EPS for the current 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 paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, September 1st. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio (DPR) is presently 43.27%.

Insider Buying and Selling

In related 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 at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

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.