Red Door Wealth Management LLC Sells 13,621 Shares of Regions Financial Corporation (NYSE:RF)

Red Door Wealth Management LLC reduced its position in Regions Financial Corporation (NYSE:RF - Free Report) by 32.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,358 shares of the bank's stock after selling 13,621 shares during the quarter. Red Door Wealth Management LLC's holdings in Regions Financial were worth $616,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Regions Financial in the fourth quarter worth $279,103,000. Invesco Ltd. increased its holdings in shares of Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after buying an additional 1,963,954 shares during the period. Deutsche Bank AG lifted its stake in shares of Regions Financial by 52.7% in the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock valued at $129,892,000 after acquiring an additional 1,907,121 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after acquiring an additional 1,396,647 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Regions Financial during the 4th quarter worth approximately $31,480,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RF. Stephens reiterated an "overweight" rating and issued a $24.00 price objective on shares of Regions Financial in a research report on Tuesday, June 3rd. TD Cowen assumed coverage on shares of Regions Financial in a research note on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price on the stock. Cowen assumed coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They set a "buy" rating for the company. The Goldman Sachs Group cut their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Regions Financial has a consensus rating of "Hold" and a consensus target price of $25.80.

Regions Financial Stock Up 0.8%

Shares of Regions Financial stock traded up $0.19 during midday trading on Monday, hitting $23.54. The company had a trading volume of 9,647,803 shares, compared to its average volume of 8,360,473. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $21.16 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.85 and a beta of 0.96. The company has a 50 day moving average of $21.56 and a 200 day moving average of $22.34.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $0.37 earnings per share. On average, equities analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 4.25%. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

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.