Lynch & Associates IN Sells 2,505 Shares of Regions Financial Co. (NYSE:RF)

Lynch & Associates IN lessened its holdings in Regions Financial Co. (NYSE:RF) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,837 shares of the bank’s stock after selling 2,505 shares during the period. Lynch & Associates IN’s holdings in Regions Financial were worth $353,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in Regions Financial by 34,598.5% during the 1st quarter. Wellington Management Group LLP now owns 33,752,303 shares of the bank’s stock worth $626,443,000 after acquiring an additional 33,655,030 shares during the period. Norges Bank bought a new stake in Regions Financial during the 4th quarter worth approximately $201,607,000. First Trust Advisors LP raised its stake in Regions Financial by 296.5% during the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock worth $234,902,000 after acquiring an additional 7,891,037 shares during the period. Amundi raised its stake in Regions Financial by 43.7% during the 4th quarter. Amundi now owns 11,180,078 shares of the bank’s stock worth $245,845,000 after acquiring an additional 3,398,243 shares during the period. Finally, Morgan Stanley raised its stake in Regions Financial by 16.1% during the 4th quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after acquiring an additional 2,802,291 shares during the period. Institutional investors own 75.84% of the company’s stock.

Insiders Place Their Bets

In other Regions Financial news, EVP Ronald G. Smith sold 10,000 shares of Regions Financial stock in a transaction on Monday, August 7th. The shares were sold at an average price of $20.93, for a total transaction of $209,300.00. Following the completion of the transaction, the executive vice president now directly owns 281,151 shares of the company’s stock, valued at $5,884,490.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on RF. Truist Financial raised their target price on shares of Regions Financial from $19.00 to $22.00 in a research note on Wednesday, July 26th. Wedbush reiterated an “outperform” rating and set a $22.00 price objective on shares of Regions Financial in a research report on Monday, July 24th. Citigroup lifted their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, July 25th. DA Davidson lifted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Finally, StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.03.

Regions Financial Price Performance

Shares of RF stock traded up $0.03 on Tuesday, reaching $17.83. The company’s stock had a trading volume of 3,090,487 shares, compared to its average volume of 9,575,737. The stock’s fifty day simple moving average is $19.30 and its 200-day simple moving average is $18.52. Regions Financial Co. has a 1 year low of $13.94 and a 1 year high of $24.33. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 1.09 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 21st. The bank reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Regions Financial had a net margin of 26.86% and a return on equity of 16.54%. Regions Financial’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Analysts forecast that Regions Financial Co. will post 2.36 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.38%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, August 31st. Regions Financial’s payout ratio is presently 41.03%.

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.