Glenmede Trust Co. NA Sells 24,347 Shares of Regions Financial Corporation $RF

Glenmede Trust Co. NA lowered its stake in Regions Financial Corporation (NYSE:RF) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 643,677 shares of the bank’s stock after selling 24,347 shares during the quarter. Glenmede Trust Co. NA owned 0.08% of Regions Financial worth $16,813,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in shares of Regions Financial during the 2nd quarter valued at $25,000. SouthState Bank Corp grew its holdings 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 worth $30,000 after acquiring an additional 538 shares during the period. Princeton Global Asset Management LLC grew its holdings 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 increased its position in Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after acquiring an additional 557 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in Regions Financial during the fourth quarter valued at $33,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RF has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. UBS Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $34.00 price objective on shares of Regions Financial in a report on Monday, July 20th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.24.

Insider Buying and Selling at Regions Financial

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

Regions Financial Trading Up 0.5%

NYSE:RF opened at $31.01 on Friday. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The business has a fifty day moving average price of $29.71 and a 200-day moving average price of $28.45. The firm has a market capitalization of $26.46 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

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

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is 43.27%.

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.