Principal Street Partners LLC Sells 240,037 Shares of Regions Financial Co. (NYSE:RF)

Principal Street Partners LLC reduced its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 94.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,496 shares of the bank's stock after selling 240,037 shares during the period. Principal Street Partners LLC's holdings in Regions Financial were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC grew its stake in shares of Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank's stock worth $29,000 after acquiring an additional 750 shares in the last quarter. HM Payson & Co. increased its holdings in Regions Financial by 2,000.0% in the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank's stock worth $36,000 after acquiring an additional 2,000 shares during the last quarter. West Paces Advisors Inc. lifted its stake in shares of Regions Financial by 277.2% during the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank's stock valued at $41,000 after buying an additional 1,752 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in Regions Financial by 69.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank's stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Regions Financial by 113.0% during the fourth quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank's stock worth $45,000 after purchasing an additional 1,322 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Insider Transactions at Regions Financial

In related news, EVP William D. Ritter sold 23,000 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director William C. Rhodes III acquired 50,000 shares of the company's stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of Regions Financial from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, April 22nd. Truist Financial cut their price target on Regions Financial from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Monday, April 22nd. Evercore ISI upped their target price on shares of Regions Financial from $20.00 to $22.00 and gave the stock an "in-line" rating in a research report on Thursday, March 28th. Royal Bank of Canada boosted their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, January 22nd. Finally, Piper Sandler raised their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $20.34.

Regions Financial Trading Up 0.3 %

Regions Financial stock traded up $0.05 during midday trading on Friday, reaching $19.83. 7,888,569 shares of the stock traded hands, compared to its average volume of 8,091,251. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a market cap of $18.16 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The company has a 50-day simple moving average of $19.68 and a two-hundred day simple moving average of $18.38. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. Research analysts expect that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Monday, June 3rd. Regions Financial's payout ratio is currently 52.17%.

Regions Financial Company Profile

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.