Meadow Creek Wealth Advisors LLC Sells 21,293 Shares of Regions Financial Corporation $RF

Meadow Creek Wealth Advisors LLC lowered its stake in shares of Regions Financial Corporation (NYSE:RF) by 69.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,372 shares of the bank’s stock after selling 21,293 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Regions Financial were worth $245,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC lifted its position in shares of Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after acquiring an additional 1,278 shares during the period. Woodline Partners LP increased its position in shares of Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after purchasing an additional 22,216 shares during the period. Baird Financial Group Inc. raised its stake in shares of Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after purchasing an additional 511 shares in the last quarter. Federated Hermes Inc. lifted its position in Regions Financial by 81.2% in the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after purchasing an additional 5,233 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Regions Financial by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after purchasing an additional 6,690 shares during the period. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RF shares. Brean Capital began coverage on shares of Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. DA Davidson downgraded shares of Regions Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $33.00 in a report on Monday. Truist Financial reiterated a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. UBS Group upped their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.16.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $30.53 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The business’s fifty day moving average price is $28.55 and its two-hundred day moving average price is $28.09. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $31.53. The stock has a market capitalization of $26.05 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.15 and a beta of 1.00.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned $0.54 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. As a group, analysts predict that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.265 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.5%. Regions Financial’s payout ratio is 44.17%.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.