SG Americas Securities LLC Sells 357,840 Shares of Regions Financial Corporation $RF

Key Points

• SG Americas Securities LLC cut its stake in Regions Financial by 46.4% in the first quarter, selling 357,840 shares and leaving it with 413,029 shares valued at about $10.8 million.
• Regions Financial reported Q1 earnings of $0.62 per share, slightly ahead of estimates, while revenue came in below expectations at $1.87 billion. Analysts currently have a Hold consensus on the stock with an average price target of $30.73.
• The bank announced a quarterly dividend of $0.265 per share, equal to an annualized yield of about 3.5%, and the stock was trading around $30.09, near its 52-week high.

SG Americas Securities LLC trimmed its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 46.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 413,029 shares of the bank's stock after selling 357,840 shares during the quarter. SG Americas Securities LLC's holdings in Regions Financial were worth $10,788,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC acquired a new position in Regions Financial during the second quarter worth $25,000. SouthState Bank Corp grew its holdings in shares of Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock valued at $30,000 after buying an additional 538 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock valued at $32,000 after buying an additional 557 shares during the last quarter. Princeton Global Asset Management LLC increased its position in shares of Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock worth $32,000 after acquiring an additional 854 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Regions Financial during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RF. 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 report on Tuesday, April 7th. DA Davidson increased their price objective on Regions Financial from $31.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Truist Financial restated a "hold" rating and issued a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Royal Bank Of Canada lifted their target price on Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Finally, Brean Capital assumed coverage on Regions Financial in a research report on Thursday, March 12th. They issued a "neutral" rating for the company. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $30.73.

Regions Financial Trading Up 0.4%

Shares of RF stock opened at $30.09 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $25.68 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.14 and a beta of 1.00. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $31.53. The company has a 50-day simple moving average of $28.16 and a two-hundred day simple moving average of $27.89.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, April 17th. The bank reported $0.62 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 firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter last year, the firm earned $0.54 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts anticipate that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, June 1st. Regions Financial's dividend payout ratio (DPR) is 44.17%.

Insiders Place Their Bets

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the business's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company's stock.

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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