Cyndeo Wealth Partners LLC Sells 1,005 Shares of Regions Financial Corporation $RF

Cyndeo Wealth Partners LLC trimmed its stake in shares of Regions Financial Corporation (NYSE:RF) by 7.8% in the second quarter, Holdings Channel.com reports. The firm owned 11,909 shares of the bank’s stock after selling 1,005 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Regions Financial were worth $280,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Regions Financial by 128.6% during the first quarter. Farther Finance Advisors LLC now owns 11,105 shares of the bank’s stock worth $240,000 after buying an additional 6,248 shares in the last quarter. Fifth Third Bancorp increased its holdings in Regions Financial by 6.0% in the 1st quarter. Fifth Third Bancorp now owns 59,869 shares of the bank’s stock worth $1,301,000 after purchasing an additional 3,366 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in Regions Financial by 5.3% in the first quarter. NorthCrest Asset Manangement LLC now owns 18,968 shares of the bank’s stock valued at $412,000 after purchasing an additional 947 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Regions Financial by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 243,969 shares of the bank’s stock valued at $5,301,000 after purchasing an additional 14,720 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its position in Regions Financial by 5.4% in the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank’s stock valued at $6,606,000 after purchasing an additional 15,652 shares during the last quarter. 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 firm’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 sale, the executive vice president owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roger W. Jenkins bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director directly owned 6,383 shares of the company’s stock, valued at $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. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on RF shares. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Evercore ISI increased their target price on Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. DA Davidson increased their target price on Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Cantor Fitzgerald started coverage on Regions Financial in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Citigroup increased their target price on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.89.

Regions Financial Price Performance

Shares of RF opened at $24.16 on Friday. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $21.56 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. The business has a 50-day moving average of $26.30 and a 200-day moving average of $23.59.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The company had revenue of $1.81 billion during the quarter. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.265 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. Regions Financial’s payout ratio is 49.30%.

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.