iA Global Asset Management Inc. Sells 45,933 Shares of Regions Financial Corporation $RF

iA Global Asset Management Inc. trimmed its stake in shares of Regions Financial Corporation (NYSE:RF) by 35.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,890 shares of the bank’s stock after selling 45,933 shares during the quarter. iA Global Asset Management Inc.’s holdings in Regions Financial were worth $2,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RF. Darwin Wealth Management LLC acquired a new stake in Regions Financial in the second quarter valued at approximately $25,000. SouthState Bank Corp increased 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 worth $30,000 after buying an additional 538 shares in the last quarter. Spire Wealth Management lifted its stake in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after acquiring an additional 557 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in shares of Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after acquiring an additional 854 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Regions Financial during the 4th quarter valued at $33,000. Institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada boosted their price objective on Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Truist Financial reiterated a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Piper Sandler cut their price target on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, March 30th. Morgan Stanley boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Brean Capital started coverage on Regions Financial in a research note on Thursday, March 12th. They issued a “neutral” rating for the company. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.80.

Regions Financial Price Performance

Shares of NYSE:RF opened at $30.29 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. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $31.53. The firm has a market cap of $25.84 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. The firm’s fifty day moving average is $28.33 and its 200-day moving average is $27.99.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion during 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%.Regions Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Sell-side analysts predict that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.265 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.5%. Regions Financial’s dividend payout ratio is presently 44.17%.

About Regions Financial

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.