Hennion & Walsh Asset Management Inc. Sells 987 Shares of Regions Financial Co. (NYSE:RF)

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of Regions Financial Co. (NYSE:RFFree Report) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,703 shares of the bank’s stock after selling 987 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Regions Financial were worth $583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Laurel Wealth Advisors LLC raised its stake in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after buying an additional 649 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Regions Financial in the 4th quarter worth about $28,000. Sound Income Strategies LLC boosted its stake in Regions Financial by 103.2% in 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 in the last quarter. Glassman Wealth Services grew its position in Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in Regions Financial during the 1st quarter valued at about $46,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 1.0 %

RF stock opened at $20.09 on Wednesday. The business’s 50-day moving average price is $19.32 and its 200-day moving average price is $19.18. The stock has a market cap of $18.40 billion, a P/E ratio of 10.92, a PEG ratio of 2.19 and a beta of 1.18. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $21.08.

Regions Financial (NYSE:RFGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion for 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%. Regions Financial’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. On average, equities research analysts forecast that Regions Financial Co. will post 1.96 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.78%. Regions Financial’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RF. Morgan Stanley cut their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $23.00 in a report on Monday, March 18th. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Piper Sandler lifted their price objective on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Evercore ISI lowered their target price on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.28.

Get Our Latest Analysis on RF

Insider Transactions at Regions Financial

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

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.

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

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