Signaturefd LLC Sells 1,169 Shares of Regions Financial Co. (NYSE:RF)

Signaturefd LLC decreased its holdings in shares of Regions Financial Co. (NYSE:RF) by 5.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,766 shares of the bank’s stock after selling 1,169 shares during the period. Signaturefd LLC’s holdings in Regions Financial were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. abrdn plc raised its position in shares of Regions Financial by 17.0% during the 4th quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock valued at $45,546,000 after acquiring an additional 341,878 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Regions Financial in the 4th quarter valued at $242,000. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Regions Financial by 7.5% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 56,834 shares of the bank’s stock valued at $1,098,000 after buying an additional 3,962 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Regions Financial by 23.6% in the 4th quarter. Federated Hermes Inc. now owns 8,681 shares of the bank’s stock valued at $168,000 after buying an additional 1,659 shares in the last quarter. Finally, Arista Wealth Management LLC bought a new stake in shares of Regions Financial in the 4th quarter valued at $194,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RF. Truist Financial lowered their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday. Royal Bank of Canada upped their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Evercore ISI upped their price objective on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Stephens reaffirmed an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a research note on Tuesday, January 23rd. Finally, Barclays reaffirmed an “underweight” rating and issued a $22.00 target price (up from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. 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 MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus target price of $20.17.

Regions Financial Trading Up 2.1 %

Regions Financial stock opened at $19.75 on Thursday. The firm has a 50-day moving average of $19.39 and a 200-day moving average of $18.06. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $18.15 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.42 and a beta of 1.21.

Regions Financial (NYSE:RF) last issued its earnings results 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 firm had revenue of $1.75 billion during 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 revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. On average, equities analysts expect that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

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

Insider Activity

In other news, Director William C. Rhodes III bought 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

About Regions Financial

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.