CIBC Asset Management Inc Trims Stock Position in Regions Financial Co. (NYSE:RF)

CIBC Asset Management Inc trimmed its position in Regions Financial Co. (NYSE:RFFree Report) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,579 shares of the bank’s stock after selling 9,537 shares during the quarter. CIBC Asset Management Inc’s holdings in Regions Financial were worth $2,976,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC increased its position in shares of Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after purchasing an additional 750 shares during the last quarter. Glassman Wealth Services increased its position in shares of Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after acquiring an additional 967 shares during the last quarter. West Paces Advisors Inc. raised its stake in shares of Regions Financial by 277.2% in the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,752 shares during the period. Baker Avenue Asset Management LP lifted its holdings in shares of Regions Financial by 69.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Regions Financial by 113.0% in the 4th quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,322 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 0.5 %

RF opened at $18.64 on Friday. The business’s 50-day simple moving average is $19.58 and its 200-day simple moving average is $18.91. The company has a market cap of $17.07 billion, a P/E ratio of 10.13, a PEG ratio of 2.05 and a beta of 1.19. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83.

Regions Financial (NYSE:RFGet Free Report) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, equities research analysts expect that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 5.15%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Analysts Set New Price Targets

Several research analysts have recently commented on RF shares. Piper Sandler raised their price target on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Evercore ISI raised their target price on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Truist Financial dropped their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Morgan Stanley reduced their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $23.00 in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average price target of $20.34.

Get Our Latest Stock Analysis on RF

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now owns 50,000 shares in the company, valued at $968,500. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Regions Financial Company Profile

(Free Report)

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

Further Reading

Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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