Glenmede Trust Co. NA Lowers Stock Holdings in Regions Financial Corporation $RF

Glenmede Trust Co. NA lowered its position in Regions Financial Corporation (NYSE:RF) by 3.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 643,677 shares of the bank’s stock after selling 24,347 shares during the quarter. Glenmede Trust Co. NA’s holdings in Regions Financial were worth $16,813,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Darwin Wealth Management LLC bought a new stake in Regions Financial during the second quarter valued at about $25,000. SouthState Bank Corp lifted its position in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after acquiring an additional 538 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after acquiring an additional 854 shares during the period. Spire Wealth Management boosted its stake in shares of Regions Financial by 91.5% in the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after acquiring an additional 557 shares during the period. Finally, Leonteq Securities AG bought a new position in shares of Regions Financial in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Regions Financial Stock Up 0.5%

RF opened at $31.01 on Friday. The company has a market capitalization of $26.46 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. The firm has a 50-day simple moving average of $29.71 and a two-hundred day simple moving average of $28.45. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. Analysts forecast that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.9%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio (DPR) is 43.27%.

Analyst Upgrades and Downgrades

RF has been the topic of several recent analyst reports. Robert W. Baird reissued an “underperform” rating and set a $28.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Cantor Fitzgerald boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Stephens began coverage on Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target for the company. Evercore reaffirmed an “underperform” rating and set a $31.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.24.

Regions Financial Company Profile

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.