Regions Financial Corporation $RF Stock Sold by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC cut its holdings in Regions Financial Corporation (NYSE:RF) by 5.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 788,525 shares of the bank’s stock after selling 47,071 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Regions Financial were worth $21,196,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Regions Financial by 8.5% in the second quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after acquiring an additional 165,527 shares during the last quarter. Bank of America Corp DE acquired a new position in Regions Financial during the second quarter valued at approximately $219,068,000. Envestnet Asset Management Inc. grew its stake in Regions Financial by 433.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank’s stock valued at $64,324,000 after purchasing an additional 1,730,874 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Regions Financial in the second quarter valued at approximately $26,043,000. Finally, Raiffeisen Bank International AG grew its stake in Regions Financial by 7,509.2% in the second quarter. Raiffeisen Bank International AG now owns 48,623 shares of the bank’s stock valued at $1,472,000 after purchasing an additional 47,984 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 1.4%

Regions Financial stock opened at $28.96 on Tuesday. Regions Financial Corporation has a 52 week low of $23.59 and a 52 week high of $32.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market capitalization of $24.68 billion, a P/E ratio of 11.36, a PEG ratio of 1.15 and a beta of 1.05. The stock has a 50-day simple moving average of $28.50 and a 200 day simple moving average of $28.69.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, October 16th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Analysts expect that Regions Financial Corporation will post 2.70 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.1%. Regions Financial’s payout ratio is presently 47.06%.

Analyst Upgrades and Downgrades

RF has been the topic of several recent analyst reports. Royal Bank Of Canada lowered their price target on Regions Financial from $34.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a report on Wednesday, October 21st. Truist Financial decreased their target price on shares of Regions Financial from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th. Jefferies Financial Group restated a “hold” rating and set a $32.00 target price on shares of Regions Financial in a report on Friday, July 17th. Finally, Wells Fargo & Company boosted their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.00.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.