Bangor Savings Bank Sells 698 Shares of Regions Financial Co. (NYSE:RF)

Bangor Savings Bank lessened its position in shares of Regions Financial Co. (NYSE:RF) by 20.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,729 shares of the bank’s stock after selling 698 shares during the period. Bangor Savings Bank’s holdings in Regions Financial were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Bessemer Group Inc. raised its stake in Regions Financial by 281.7% during the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after acquiring an additional 58,739 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in shares of Regions Financial by 1,075.7% in the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock worth $942,000 after acquiring an additional 40,972 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Regions Financial by 30.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock valued at $8,734,000 after purchasing an additional 98,003 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Regions Financial during the 1st quarter valued at approximately $19,322,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF stock opened at $22.74 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $23.47. The firm has a 50 day moving average of $22.22 and a 200-day moving average of $20.71. The company has a market cap of $20.83 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm 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%. The business’s revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, equities analysts forecast that Regions Financial Co. will post 2.01 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.40%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is presently 54.35%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RF shares. Keefe, Bruyette & Woods cut their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley upped their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company lifted their price target on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Evercore ISI raised 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 upped 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 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 stock. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $22.86.

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.