Regions Financial Corporation $RF Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in shares of Regions Financial Corporation (NYSE:RF) by 1.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 174,677 shares of the bank’s stock after selling 2,084 shares during the quarter. Amalgamated Bank’s holdings in Regions Financial were worth $4,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vontobel Holding Ltd. lifted its holdings in shares of Regions Financial by 5.3% in the 1st quarter. Vontobel Holding Ltd. now owns 13,855 shares of the bank’s stock valued at $301,000 after purchasing an additional 700 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Regions Financial in the 1st quarter valued at about $36,000. First Horizon Advisors Inc. lifted its holdings in shares of Regions Financial by 8.7% in the 1st quarter. First Horizon Advisors Inc. now owns 6,641 shares of the bank’s stock valued at $144,000 after purchasing an additional 532 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Regions Financial by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,138,791 shares of the bank’s stock valued at $24,746,000 after purchasing an additional 73,107 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of Regions Financial in the 1st quarter valued at about $272,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regions Financial news, Director Roger W. Jenkins bought 4,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director owned 6,383 shares in the company, valued at approximately $162,638.84. This represents a 167.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president directly owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RF shares. Barclays reissued an “underweight” rating and issued a $27.00 target price (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Regions Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Cowen reaffirmed a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Finally, Stephens reaffirmed an “equal weight” rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.19.

Regions Financial Stock Performance

Shares of RF stock opened at $24.21 on Monday. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.24 and a beta of 1.02. The stock has a 50 day simple moving average of $25.92 and a 200-day simple moving average of $24.11. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27.

Regions Financial (NYSE:RF) last issued its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion during the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. On average, equities analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial’s dividend payout ratio is 46.70%.

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.