Whittier Trust Co. Sells 800 Shares of Regions Financial Co. (NYSE:RF)

Whittier Trust Co. reduced its position in Regions Financial Co. (NYSE:RFFree Report) by 20.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,081 shares of the bank’s stock after selling 800 shares during the period. Whittier Trust Co.’s holdings in Regions Financial were worth $65,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Laurel Wealth Advisors LLC boosted its holdings in Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after buying an additional 649 shares during the period. ICA Group Wealth Management LLC bought a new position in shares of Regions Financial in the fourth quarter worth $28,000. Sound Income Strategies LLC grew its position in shares of Regions Financial by 103.2% in the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares in the last quarter. Glassman Wealth Services raised its stake in shares of Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 shares during the period. Finally, MV Capital Management Inc. lifted its holdings in Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Regions Financial

In other news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was bought at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at $968,500. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RF. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 5th. Evercore ISI reduced their price target on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Jefferies Financial Group increased their price objective on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Morgan Stanley reduced their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus target price of $20.39.

Check Out Our Latest Report on RF

Regions Financial Price Performance

RF stock opened at $20.06 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $18.37 billion, a P/E ratio of 10.93, a P/E/G ratio of 2.16 and a beta of 1.18. The firm’s fifty day moving average is $19.33 and its 200 day moving average is $19.20. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08.

Regions Financial (NYSE:RFGet Free Report) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. Research analysts predict that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date was Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

About Regions Financial

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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