Regions Financial Corporation $RF Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC cut its stake in Regions Financial by 6.4%, selling 57,733 shares and leaving it with 846,350 shares worth about $22.94 million (roughly a 0.10% stake).
• Dividend announced: Regions will pay a $0.265 quarterly dividend ($1.06 annualized) for a 3.8% yield, with an ex-dividend date of June 1 and payment on July 1; the payout ratio is about 44.17%.
• Recent results and outlook: Regions reported $0.62 EPS (beat by $0.01) and $1.87 billion revenue (below expectations) with revenue up 5% year‑over‑year; analysts have a consensus rating of "Hold" and an average target of $30.12.

GRIMES & Co WEALTH MANAGEMENT LLC decreased its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 846,350 shares of the bank's stock after selling 57,733 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC owned 0.10% of Regions Financial worth $22,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of Regions Financial during the 2nd quarter worth approximately $25,000. United Community Bank acquired a new stake in shares of Regions Financial during the 3rd quarter worth approximately $30,000. Spire Wealth Management grew its stake in shares of Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock worth $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC grew its stake in Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock valued at $32,000 after acquiring an additional 854 shares during the period. Finally, Murphy Middleton Hinkle & Parker Inc. acquired a new stake in Regions Financial in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Down 0.9%

Shares of RF opened at $27.95 on Friday. Regions Financial Corporation has a 52-week low of $20.79 and a 52-week high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The firm's fifty day moving average is $27.07 and its two-hundred day moving average is $27.06. The stock has a market cap of $24.13 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.10 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The firm's quarterly revenue was up 5.0% on a year-over-year basis. Research analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial's payout ratio is 44.17%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RF shares. Wells Fargo & Company cut shares of Regions Financial from an "equal weight" rating to an "underweight" rating and set a $30.00 price target on the stock. in a research note on Friday, January 16th. DA Davidson lifted their price target on shares of Regions Financial from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, April 20th. JPMorgan Chase & Co. dropped their price target on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $31.00 price target on shares of Regions Financial in a research note on Tuesday, January 20th. Finally, Piper Sandler dropped their price target on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, March 30th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $30.12.

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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