Regions Financial Corporation $RF Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in Regions Financial Corporation (NYSE:RF) by 85.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,506 shares of the bank’s stock after selling 57,666 shares during the period. Edgestream Partners L.P.’s holdings in Regions Financial were worth $248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Swiss Life Asset Management Ltd boosted its position in shares of Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after buying an additional 1,600,926 shares during the period. Evergreen Capital Management LLC acquired a new position in Regions Financial during the fourth quarter valued at $1,939,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Regions Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock valued at $51,247,000 after buying an additional 69,191 shares during the period. Waterloo Capital L.P. lifted its stake in Regions Financial by 123.7% in the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock worth $3,683,000 after acquiring an additional 75,149 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of Regions Financial by 108.0% in the fourth quarter. Sanctuary Advisors LLC now owns 675,296 shares of the bank’s stock worth $18,301,000 after purchasing an additional 350,599 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore reissued an “underperform” rating and set a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their price target on Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Truist Financial raised their price target on Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. UBS Group boosted their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley increased their target price on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $32.24.

Regions Financial Trading Down 0.3%

Shares of RF opened at $31.84 on Thursday. The stock’s 50-day moving average price is $29.94 and its 200 day moving average price is $28.53. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $27.18 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.22 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $0.60 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.8%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is 43.27%.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.