Veracity Capital LLC Lowers Stock Position in Regions Financial Co. (NYSE:RF)

Veracity Capital LLC reduced its stake in shares of Regions Financial Co. (NYSE:RF) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,170 shares of the bank’s stock after selling 605 shares during the period. Veracity Capital LLC’s holdings in Regions Financial were worth $256,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RF. Laurel Wealth Advisors LLC raised its stake in Regions Financial by 86.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after purchasing an additional 649 shares during the period. MV Capital Management Inc. raised its stake in Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the period. ICA Group Wealth Management LLC bought a new stake in Regions Financial during the 4th quarter valued at approximately $28,000. Sound Income Strategies LLC raised its stake in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares during the period. Finally, Glassman Wealth Services raised its stake in Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RF shares. Piper Sandler lifted their target price on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Evercore ISI reduced their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods lifted their price objective 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. Morgan Stanley reduced their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Jefferies Financial Group lifted their price objective on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus target price of $20.39.

Regions Financial Price Performance

RF opened at $19.89 on Friday. The business has a fifty day moving average of $19.33 and a 200 day moving average of $19.19. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $21.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The stock has a market cap of $18.22 billion, a P/E ratio of 10.81, a PEG ratio of 2.17 and a beta of 1.18.

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

Regions Financial Dividend Announcement

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

Insiders Place Their Bets

In other news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition 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 on Friday, May 3rd. The stock was 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 of the company’s stock, valued at $831,336.45. The disclosure for this sale can be found here. Company 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.