Regions Financial Corporation $RF Shares Sold by Edgestream Partners L.P.

Key Points

• Edgestream Partners cut its Regions Financial stake by 85.8% in the first quarter, selling 57,666 shares and retaining 9,506 shares valued at $248,000. Institutional investors overall own 79.39% of the company.
• Analysts maintain a consensus “Hold” rating on RF, with six Buy, ten Hold, and four Sell ratings and an average price target of $32.24.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 EPS versus the $0.63 estimate, and raised its quarterly dividend from $0.27 to $0.30 per share, representing a 3.8% annualized yield.

Edgestream Partners L.P. decreased its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 85.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,506 shares of the bank's stock after selling 57,666 shares during the quarter. Edgestream Partners L.P.'s holdings in Regions Financial were worth $248,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Kentucky Retirement Systems lifted its position in Regions Financial by 101.6% in the 1st quarter. Kentucky Retirement Systems now owns 113,733 shares of the bank's stock valued at $2,971,000 after purchasing an additional 57,330 shares during the last quarter. Oddo BHF Asset Management Sas grew its position in Regions Financial by 3.9% in the 1st quarter. Oddo BHF Asset Management Sas now owns 169,650 shares of the bank's stock worth $4,431,000 after purchasing an additional 6,427 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Regions Financial by 71.5% in the first quarter. Arkadios Wealth Advisors now owns 20,784 shares of the bank's stock valued at $543,000 after purchasing an additional 8,667 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Regions Financial by 10.5% in the first quarter. EverSource Wealth Advisors LLC now owns 28,129 shares of the bank's stock valued at $735,000 after purchasing an additional 2,668 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Regions Financial by 160.6% during the first quarter. Empowered Funds LLC now owns 66,570 shares of the bank's stock valued at $1,739,000 after buying an additional 41,024 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RF shares. Evercore reiterated an "underperform" rating and set a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Keefe, Bruyette & Woods lifted their target price on Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a research note on Monday, July 20th. Truist Financial increased their price target on Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. Morgan Stanley raised their price target on Regions Financial from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Finally, UBS Group lifted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Regions Financial has a consensus rating of "Hold" and an average price target of $32.24.

Regions Financial Price Performance

Shares of NYSE:RF opened at $31.84 on Thursday. The stock has a market cap of $27.18 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47. The stock's 50 day moving average price is $29.94 and its 200 day moving average price is $28.53.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $0.60 EPS. The firm's quarterly revenue was up .1% on a year-over-year basis. Equities research analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. This is an increase from Regions Financial's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial's dividend payout ratio (DPR) is 43.27%.

Regions Financial Company Profile

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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