Regions Financial Co. (NYSE:RF) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in Regions Financial Co. (NYSE:RF) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,703 shares of the bank’s stock after selling 987 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Regions Financial were worth $583,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RF. Register Financial Advisors LLC purchased a new stake in shares of Regions Financial during the 1st quarter valued at approximately $46,000. Signet Financial Management LLC lifted its stake in shares of Regions Financial by 4.9% in the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after purchasing an additional 584 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Regions Financial during the 1st quarter worth $267,000. RFG Advisory LLC increased its position in shares of Regions Financial by 6.5% during the 1st quarter. RFG Advisory LLC now owns 55,882 shares of the bank’s stock worth $1,176,000 after purchasing an additional 3,391 shares during the last quarter. Finally, BTC Capital Management Inc. acquired a new position in Regions Financial in the first quarter valued at about $5,840,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Up 1.0 %

Shares of NYSE RF opened at $20.09 on Wednesday. The business has a 50-day moving average of $19.32 and a two-hundred day moving average of $19.18. The company has a market capitalization of $18.40 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 2.19 and a beta of 1.18. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, analysts forecast that Regions Financial Co. will post 1.96 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Monday, June 3rd. Regions Financial’s payout ratio is 52.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RF shares. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Morgan Stanley cut their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Piper Sandler lifted their price objective on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods increased their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Finally, StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial presently has an average rating of “Hold” and an average target price of $20.28.

Insider Buying and Selling

In other news, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

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.