Regions Financial Co. (NYSE:RF) Shares Sold by OLD National Bancorp IN

Posted by Defense World Staff on Apr 25th, 2023

OLD National Bancorp IN trimmed its holdings in Regions Financial Co. (NYSE:RF – Get Rating) by 40.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,832 shares of the bank’s stock after selling 23,395 shares during the period. OLD National Bancorp IN’s holdings in Regions Financial were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RF. Yousif Capital Management LLC grew its holdings in Regions Financial by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 149,877 shares of the bank’s stock valued at $3,336,000 after buying an additional 1,249 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Regions Financial by 23.5% in the first quarter. Vontobel Holding Ltd. now owns 24,426 shares of the bank’s stock valued at $553,000 after purchasing an additional 4,648 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Regions Financial by 929.9% in the first quarter. Allianz Asset Management GmbH now owns 1,070,728 shares of the bank’s stock valued at $23,834,000 after purchasing an additional 966,768 shares during the period. Brown Brothers Harriman & Co. increased its position in Regions Financial by 44.7% during the first quarter. Brown Brothers Harriman & Co. now owns 15,715 shares of the bank’s stock worth $350,000 after purchasing an additional 4,852 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Regions Financial by 41.7% during the first quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank’s stock worth $56,000 after purchasing an additional 737 shares during the period. 72.87% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.3 %

Shares of NYSE RF opened at $18.30 on Tuesday. The business has a 50-day moving average price of $20.14 and a 200 day moving average price of $21.41. The stock has a market cap of $17.10 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.16. Regions Financial Co. has a 52-week low of $13.94 and a 52-week high of $24.33.

Regions Financial (NYSE:RF – Get Rating) last issued its quarterly earnings data on Friday, April 21st. The bank reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Regions Financial had a net margin of 29.81% and a return on equity of 16.14%. Regions Financial’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. Equities research analysts forecast that Regions Financial Co. will post 2.49 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.37%. Regions Financial’s dividend payout ratio (DPR) is 34.19%.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $23.42, for a total transaction of $304,460.00. Following the completion of the sale, the executive vice president now directly owns 24,344 shares of the company’s stock, valued at approximately $570,136.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP C. Matthew Lusco sold 100,000 shares of the business’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $22.83, for a total transaction of $2,283,000.00. Following the transaction, the executive vice president now directly owns 77,843 shares in the company, valued at $1,777,155.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William D. Ritter sold 13,000 shares of the stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $23.42, for a total transaction of $304,460.00. Following the transaction, the executive vice president now directly owns 24,344 shares of the company’s stock, valued at $570,136.48. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

RF has been the subject of several analyst reports. Barclays dropped their price target on shares of Regions Financial from $29.00 to $23.00 in a research note on Wednesday, April 12th. JPMorgan Chase & Co. reduced their target price on Regions Financial from $26.00 to $23.00 in a research report on Monday, April 10th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Piper Sandler reduced their price objective on shares of Regions Financial from $27.50 to $25.00 in a report on Monday. Finally, UBS Group upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.45.

Regions Financial Company Profile

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Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.