DoubleLine ETF Adviser LP Sells 732 Shares of Regions Financial Co. (NYSE:RF)

DoubleLine ETF Adviser LP cut its holdings in Regions Financial Co. (NYSE:RF) by 4.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,757 shares of the bank’s stock after selling 732 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Regions Financial were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RF. IFG Advisory LLC grew its position in Regions Financial by 1.8% in the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after acquiring an additional 546 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Regions Financial by 0.6% in the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after purchasing an additional 551 shares during the period. CWM LLC boosted its holdings in shares of Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after purchasing an additional 556 shares during the period. Perigon Wealth Management LLC increased its position in shares of Regions Financial by 2.8% during the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares during the last quarter. Finally, Signet Financial Management LLC raised its holdings in Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after buying an additional 584 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on RF shares. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Truist Financial lifted their price target on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Bank of America increased their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Wells Fargo & Company raised their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Finally, Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and upped their target price for the company from $23.00 to $28.00 in a research note on Tuesday. One investment 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, the company currently has a consensus rating of “Hold” and an average price target of $22.06.

Regions Financial Trading Up 1.6 %

NYSE:RF opened at $22.90 on Friday. The firm has a 50-day simple moving average of $22.15 and a 200-day simple moving average of $20.49. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47. The firm has a market cap of $20.97 billion, a P/E ratio of 12.45, a P/E/G ratio of 2.95 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Equities analysts anticipate that Regions Financial Co. will post 2.01 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.37%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

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.