Regions Financial Co. (NYSE:RF) Shares Sold by Bank of New Hampshire

Bank of New Hampshire lessened its holdings in Regions Financial Co. (NYSE:RF) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,885 shares of the bank’s stock after selling 4,860 shares during the quarter. Bank of New Hampshire’s holdings in Regions Financial were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RF. Wellington Management Group LLP boosted its holdings in Regions Financial by 8.4% in the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after purchasing an additional 4,160,768 shares during the period. Bahl & Gaynor Inc. boosted its holdings in Regions Financial by 162.1% in the third quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock worth $101,559,000 after purchasing an additional 3,651,390 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Regions Financial by 2.7% during the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock valued at $1,970,871,000 after acquiring an additional 2,982,310 shares during the period. Invesco Ltd. boosted its holdings in shares of Regions Financial by 15.1% during the third quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock valued at $190,682,000 after acquiring an additional 1,455,499 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Regions Financial by 13.4% during the third quarter. Northern Trust Corp now owns 10,761,543 shares of the bank’s stock valued at $185,099,000 after acquiring an additional 1,268,045 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RF. Piper Sandler upped their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price objective on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Morgan Stanley lowered their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Finally, Truist Financial lowered their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.34.

Regions Financial Price Performance

Regions Financial stock traded up $0.15 during mid-day trading on Friday, hitting $19.76. 1,788,060 shares of the company were exchanged, compared to its average volume of 8,746,859. The business has a fifty day moving average of $19.41 and a 200 day moving average of $18.07. 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 company has a market capitalization of $18.16 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $21.08.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. As a group, sell-side analysts expect that Regions Financial Co. will post 1.95 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.86%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio is 52.17%.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $968,500. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

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.