Regions Financial Corporation (NYSE:RF) Shares Sold by Meridian Management Co.

Meridian Management Co. lowered its stake in shares of Regions Financial Corporation (NYSE:RF) by 46.7% in the first quarter, Holdings Channel reports. The institutional investor owned 19,332 shares of the bank’s stock after selling 16,923 shares during the quarter. Meridian Management Co.’s holdings in Regions Financial were worth $420,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Foster Victor Wealth Advisors LLC grew its position in shares of Regions Financial by 5.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank’s stock worth $6,606,000 after buying an additional 15,652 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Regions Financial by 0.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock worth $52,762,000 after buying an additional 21,169 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Regions Financial by 13.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock worth $3,424,000 after buying an additional 18,684 shares in the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Regions Financial by 62.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock worth $440,000 after buying an additional 7,822 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in Regions Financial by 4.0% in the fourth quarter. LPL Financial LLC now owns 939,376 shares of the bank’s stock worth $22,094,000 after purchasing an additional 36,438 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF stock opened at $26.41 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.52 and a beta of 0.98. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The stock’s fifty day moving average is $23.16 and its two-hundred day moving average is $22.50.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business 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 business earned $0.52 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, September 2nd. Regions Financial’s payout ratio is currently 46.51%.

Analysts Set New Price Targets

A number of research firms have commented on RF. Morgan Stanley lifted their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Truist Financial reaffirmed a “hold” rating on shares of Regions Financial in a report on Friday, May 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. DA Davidson lifted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, Stephens lifted their price objective on shares of Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.33.

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.