Regions Financial Co. (NYSE:RF) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its stake in Regions Financial Co. (NYSE:RF) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,556 shares of the bank’s stock after selling 1,052 shares during the quarter. Park Avenue Securities LLC’s holdings in Regions Financial were worth $1,459,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. EntryPoint Capital LLC purchased a new stake in shares of Regions Financial during the 1st quarter valued at approximately $26,000. American National Bank & Trust lifted its position in Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares during the last quarter. Quarry LP boosted its stake in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares during the period. MV Capital Management Inc. increased its position in shares of Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after acquiring an additional 618 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

RF has been the subject of several research analyst reports. Keefe, Bruyette & Woods dropped their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Citigroup raised their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Evercore ISI lifted their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, Truist Financial raised their price target on shares of Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $22.86.

Regions Financial Price Performance

RF stock opened at $22.81 on Tuesday. The firm has a 50 day moving average of $22.22 and a 200-day moving average of $20.69. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.95 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47.

Regions Financial (NYSE:RF) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. As a group, equities analysts expect that Regions Financial Co. will post 2.01 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.38%. The ex-dividend date was Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is 54.35%.

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.