Truist Financial Corp Sells 2,339 Shares of Regions Financial Corporation $RF

Truist Financial Corp lessened its stake in Regions Financial Corporation (NYSE:RF) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,832 shares of the bank’s stock after selling 2,339 shares during the period. Truist Financial Corp’s holdings in Regions Financial were worth $4,865,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Trivium Point Advisory LLC lifted its position in Regions Financial by 5.8% in the second quarter. Trivium Point Advisory LLC now owns 20,240 shares of the bank’s stock valued at $476,000 after purchasing an additional 1,117 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of Regions Financial by 5.7% in the second quarter. Capital Investment Advisors LLC now owns 31,148 shares of the bank’s stock worth $733,000 after buying an additional 1,693 shares during the period. Venture Visionary Partners LLC raised its holdings in Regions Financial by 1.9% during the 2nd quarter. Venture Visionary Partners LLC now owns 403,220 shares of the bank’s stock valued at $9,484,000 after buying an additional 7,449 shares during the last quarter. Archford Capital Strategies LLC purchased a new stake in Regions Financial during the 2nd quarter valued at $439,000. Finally, GC Wealth Management RIA LLC purchased a new stake in Regions Financial during the 2nd quarter valued at $325,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RF shares. Evercore ISI upped their price objective on shares of Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Citigroup upped their price target on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods increased their price objective on Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. DA Davidson boosted their target price on Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.89.

Insider Activity

In other news, EVP David R. Keenan sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president owned 90,915 shares in the company, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roger W. Jenkins purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Regions Financial Price Performance

Shares of RF opened at $25.75 on Wednesday. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The firm’s 50-day simple moving average is $26.32 and its two-hundred day simple moving average is $23.54. The stock has a market cap of $22.97 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.265 per share. The ex-dividend date was Tuesday, September 2nd. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 4.1%. Regions Financial’s dividend payout ratio is 49.30%.

Regions Financial Profile

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.