Wealth Enhancement Advisory Services LLC Has $2.81 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,338 shares of the bank’s stock after selling 737 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Regions Financial were worth $2,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Quadrature Capital Ltd purchased a new stake in shares of Regions Financial in the third quarter worth approximately $251,000. Advisors Asset Management Inc. lifted its position in Regions Financial by 31.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 148,053 shares of the bank’s stock worth $2,547,000 after buying an additional 35,030 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of Regions Financial during the 3rd quarter valued at $213,000. Ameriprise Financial Inc. grew its holdings in shares of Regions Financial by 0.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,541,154 shares of the bank’s stock valued at $95,371,000 after acquiring an additional 44,882 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Regions Financial by 19.9% in the third quarter. Alps Advisors Inc. now owns 18,776 shares of the bank’s stock worth $323,000 after acquiring an additional 3,113 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Down 1.0 %

Shares of Regions Financial stock opened at $19.89 on Thursday. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.08. The company’s fifty day simple moving average is $19.32 and its 200-day simple moving average is $19.19. The company has a market cap of $18.22 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 2.19 and a beta of 1.18. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. As a group, sell-side analysts expect that Regions Financial Co. will post 1.96 EPS for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 4.83%. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Piper Sandler boosted their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Truist Financial cut their price target on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Evercore ISI reduced their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus target price of $20.39.

Insiders Place Their Bets

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