Inspire Investing LLC Sells 7,972 Shares of Regions Financial Co. (NYSE:RF)

Inspire Investing LLC lessened its holdings in Regions Financial Co. (NYSE:RF) by 37.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,146 shares of the bank’s stock after selling 7,972 shares during the period. Inspire Investing LLC’s holdings in Regions Financial were worth $263,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in shares of Regions Financial in the 1st quarter worth about $26,000. ICA Group Wealth Management LLC bought a new stake in Regions Financial during the fourth quarter worth approximately $28,000. MV Capital Management Inc. raised its position in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the topic of several recent research reports. Evercore ISI decreased their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Keefe, Bruyette & Woods reduced their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Citigroup lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company increased their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Finally, Bank of America boosted their target price on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.06.

Regions Financial Stock Performance

RF stock opened at $22.92 on Wednesday. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $23.47. The business has a 50-day moving average price of $22.14 and a 200 day moving average price of $20.47. The company has a market capitalization of $20.99 billion, a P/E ratio of 12.46, a PEG ratio of 2.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $0.59 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.36%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is 54.35%.

About Regions Financial

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.