Regions Financial Corporation $RF Shares Sold by Glenview Trust co

Glenview Trust co decreased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,703 shares of the bank’s stock after selling 2,055 shares during the quarter. Glenview Trust co’s holdings in Regions Financial were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RF. Foster Victor Wealth Advisors LLC raised its holdings in shares of Regions Financial by 5.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank’s stock valued at $6,606,000 after buying an additional 15,652 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Regions Financial by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock valued at $52,762,000 after buying an additional 21,169 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Regions Financial by 13.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock valued at $3,424,000 after buying an additional 18,684 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in shares of Regions Financial by 62.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock valued at $440,000 after buying an additional 7,822 shares during the period. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of Regions Financial during the 1st quarter valued at about $272,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the transaction, the executive vice president owned 90,915 shares in the company, valued at $2,273,784.15. The trade was a 24.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger W. Jenkins acquired 4,000 shares of Regions Financial stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the transaction, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RF shares. DA Davidson raised their target price on Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a report on Monday, July 21st. Jefferies Financial Group started coverage on Regions Financial in a report on Wednesday, May 21st. They set a “hold” rating and a $24.00 target price on the stock. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Cantor Fitzgerald assumed coverage on Regions Financial in a research note on Wednesday. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Barclays restated an “underweight” rating and set a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.47.

Regions Financial Price Performance

Shares of RF opened at $27.05 on Friday. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.55 and a beta of 1.02. The stock has a 50 day moving average of $25.86 and a 200-day moving average of $22.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s payout ratio is 49.30%.

Regions Financial Company 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.