Sei Investments Co. Lowers Holdings in Regions Financial Corporation $RF

Sei Investments Co. reduced its stake in shares of Regions Financial Corporation (NYSE:RF) by 2.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,936,074 shares of the bank’s stock after selling 43,305 shares during the quarter. Sei Investments Co.’s holdings in Regions Financial were worth $50,570,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial in the second quarter worth about $25,000. SouthState Bank Corp grew its holdings in Regions Financial by 94.1% during 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. Spire Wealth Management raised 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 in the last quarter. Princeton Global Asset Management LLC raised its position in Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after acquiring an additional 854 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Regions Financial in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Truist Financial upped their price objective on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday. Stephens began coverage on shares of Regions Financial in a report on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research note on Friday, July 17th. Evercore reissued an “underperform” rating and set a $31.00 price target on shares of Regions Financial in a report on Monday, July 6th. Finally, Morgan Stanley raised their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus price target of $32.21.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Regions Financial Stock Performance

Shares of RF stock opened at $30.82 on Friday. The company has a market capitalization of $26.31 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.18 and a beta of 1.00. The business’s 50 day moving average is $29.36 and its two-hundred day moving average is $28.36. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Regions Financial Corporation will post 2.62 EPS 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. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is 43.27%.

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.