Regions Financial Corporation $RF Shares Sold by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse De Depot ET Placement Du Quebec has reduced its stake in Regions Financial Corporation by 30.7%, selling off 180,665 shares, leaving it with 406,880 shares valued at approximately $8.84 million.
• Several analysts have upgraded Regions Financial's stock, with a consensus rating of "Moderate Buy" and a target price of $27.33, reflecting optimism despite recent changes in institutional ownership.
• Regions Financial recently announced an increase in its quarterly dividend to $0.265, representing a 3.9% yield, which suggests strong financial performance as the company reported earnings per share of $0.60 for the last quarter.

Caisse DE Depot ET Placement DU Quebec cut its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 30.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,880 shares of the bank's stock after selling 180,665 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Regions Financial were worth $8,842,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of RF. Foster Victor Wealth Advisors LLC lifted its stake 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 during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Regions Financial by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock worth $52,762,000 after acquiring an additional 21,169 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Regions Financial by 13.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock worth $3,424,000 after acquiring an additional 18,684 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in Regions Financial by 62.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock worth $440,000 after acquiring an additional 7,822 shares during the period. Finally, OneDigital Investment Advisors LLC purchased a new stake in Regions Financial during the 1st quarter valued at about $272,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of Regions Financial stock traded down $0.51 during trading on Tuesday, reaching $26.88. The company's stock had a trading volume of 19,564,540 shares, compared to its average volume of 14,797,229. The company has a 50-day moving average price of $25.40 and a two-hundred day moving average price of $22.82. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. The firm has a market cap of $23.99 billion, a PE ratio of 12.50, a P/E/G ratio of 1.58 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The business's revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. On average, analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio (DPR) is currently 46.51%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RF shares. Wall Street Zen upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Jefferies Financial Group started coverage on Regions Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target on the stock. Truist Financial reiterated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. DA Davidson boosted their price target on Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Barclays reiterated an "underweight" rating and issued a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Eleven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.33.

Insider Buying and Selling at Regions Financial

In other news, Director Roger W. Jenkins bought 4,000 shares of Regions Financial stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the sale, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

About Regions Financial

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.