Bangor Savings Bank Trims Stake in Regions Financial Co. (NYSE:RF)

Bangor Savings Bank decreased its stake in shares of Regions Financial Co. (NYSE:RF) by 90.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,248 shares of the bank’s stock after selling 41,704 shares during the quarter. Bangor Savings Bank’s holdings in Regions Financial were worth $89,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RF. Nordea Investment Management AB grew its stake in Regions Financial by 5.9% during the 3rd quarter. Nordea Investment Management AB now owns 159,566 shares of the bank’s stock worth $2,773,000 after buying an additional 8,957 shares during the last quarter. FMR LLC raised its holdings in shares of Regions Financial by 0.3% during the third quarter. FMR LLC now owns 2,625,990 shares of the bank’s stock worth $45,167,000 after purchasing an additional 8,274 shares during the last quarter. LPL Financial LLC lifted its position in Regions Financial by 19.6% during the third quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock valued at $10,019,000 after purchasing an additional 95,271 shares during the period. Mariner LLC boosted its holdings in Regions Financial by 9.2% in the third quarter. Mariner LLC now owns 83,906 shares of the bank’s stock valued at $1,443,000 after purchasing an additional 7,057 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Regions Financial by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 261,347 shares of the bank’s stock worth $4,495,000 after purchasing an additional 3,212 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

Shares of RF stock opened at $18.93 on Monday. The firm’s 50-day moving average is $19.26 and its two-hundred day moving average is $19.11. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $17.34 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. Analysts predict that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.07%. Regions Financial’s payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler boosted their price target on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Truist Financial lowered their target price on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Evercore ISI lifted their price target on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Morgan Stanley dropped their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods upped their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.34.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the purchase, the director now owns 50,000 shares in the company, valued at approximately $968,500. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William D. Ritter sold 23,000 shares of the business’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 of the company’s stock, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.