Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in Regions Financial Corporation $RF

Key Points

• Sumitomo Mitsui Trust Group cut its stake in Regions Financial by 4.5% in the first quarter, selling 112,032 shares and leaving it with 2.39 million shares valued at about $62.4 million.
• Other institutional investors also adjusted holdings, while 79.39% of Regions Financial’s stock remains owned by institutions. Insider activity included EVP Brian R. Willman selling 7,014 shares at $27.91 each.
• Regions Financial reported Q1 EPS of $0.62, slightly ahead of estimates, and paid a quarterly dividend of $0.265 per share for a 3.4% annualized yield. Analysts currently have a consensus Hold rating with an average target price of $31.16.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,388,762 shares of the bank's stock after selling 112,032 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Regions Financial worth $62,394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Resonant Capital Advisors LLC increased its holdings in Regions Financial by 3.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 25,952 shares of the bank's stock worth $684,000 after acquiring an additional 801 shares in the last quarter. Swedbank AB boosted its position in shares of Regions Financial by 0.8% in the first quarter. Swedbank AB now owns 771,580 shares of the bank's stock worth $20,154,000 after purchasing an additional 6,151 shares during the period. Kathmere Capital Management LLC bought a new position in shares of Regions Financial in the first quarter worth approximately $216,000. Whittier Trust Co. increased its stake in shares of Regions Financial by 9.7% in the first quarter. Whittier Trust Co. now owns 8,227 shares of the bank's stock worth $220,000 after purchasing an additional 729 shares in the last quarter. Finally, Kepler Cheuvreux Suisse SA purchased a new stake in shares of Regions Financial in the first quarter worth $979,000. 79.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regions Financial

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Truist Financial reissued a "hold" rating and set a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. Evercore restated an "underperform" rating and issued a $31.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Morgan Stanley increased their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Royal Bank Of Canada lifted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Finally, UBS Group boosted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $31.16.

Regions Financial Price Performance

Regions Financial stock traded up $0.46 during midday trading on Friday, reaching $31.04. 12,462,847 shares of the stock traded hands, compared to its average volume of 9,682,642. The stock has a market cap of $26.49 billion, a P/E ratio of 12.94, a PEG ratio of 1.20 and a beta of 1.00. The stock's fifty day moving average is $28.61 and its 200-day moving average is $28.11. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $31.53.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.6 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a $0.265 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.4%. Regions Financial's dividend payout ratio (DPR) is 44.17%.

Regions Financial 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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