Exchange Traded Concepts LLC Decreases Stake in Regions Financial Corporation (NYSE:RF)

Exchange Traded Concepts LLC reduced its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 97.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,607 shares of the bank's stock after selling 121,277 shares during the quarter. Exchange Traded Concepts LLC's holdings in Regions Financial were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in RF. Picton Mahoney Asset Management lifted its stake in Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after purchasing an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in Regions Financial in the 4th quarter valued at about $32,000. Allworth Financial LP grew its stake in Regions Financial by 36.4% in the fourth quarter. Allworth Financial LP now owns 2,560 shares of the bank's stock worth $62,000 after purchasing an additional 683 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Regions Financial by 181.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after buying an additional 2,078 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Regions Financial by 20.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,316 shares of the bank's stock valued at $86,000 after purchasing an additional 567 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on RF. Morgan Stanley decreased their price target on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Barclays cut their price objective on Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. TD Cowen began coverage on Regions Financial in a report on Thursday, May 15th. They set a "buy" rating and a $31.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.80.

Regions Financial Price Performance

Regions Financial stock traded up $0.50 during trading on Thursday, reaching $23.39. The company had a trading volume of 7,740,550 shares, compared to its average volume of 8,355,820. The firm has a market capitalization of $21.03 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.82 and a beta of 0.96. The firm's 50-day simple moving average is $21.39 and its 200 day simple moving average is $22.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. During the same quarter last year, the business earned $0.37 earnings per share. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.27%. The ex-dividend date is Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

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.