Bahl & Gaynor Inc. Cuts Holdings in Regions Financial Co. (NYSE:RF)

Bahl & Gaynor Inc. trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 21.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,657,325 shares of the bank’s stock after selling 1,247,270 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Regions Financial were worth $90,259,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Advisor Resource Council purchased a new stake in Regions Financial during the 4th quarter valued at $1,944,000. Vestmark Advisory Solutions Inc. boosted its stake in shares of Regions Financial by 126.3% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank’s stock worth $455,000 after buying an additional 14,756 shares during the last quarter. abrdn plc boosted its stake in shares of Regions Financial by 17.0% in the 4th quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock worth $45,546,000 after buying an additional 341,878 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Regions Financial by 19.6% in the 3rd quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock worth $10,019,000 after buying an additional 95,271 shares during the last quarter. Finally, Vaughan David Investments LLC IL boosted its stake in shares of Regions Financial by 48.9% in the 4th quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock worth $47,886,000 after buying an additional 811,174 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $19.62 on Friday. The stock’s 50-day simple moving average is $19.43 and its 200-day simple moving average is $18.09. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.43 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Regions Financial’s revenue was down 10.5% on a year-over-year basis. As a group, analysts expect that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.89%. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Insider Transactions at Regions Financial

In other news, Director William C. Rhodes III bought 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at approximately $968,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RF. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $15.00 to $22.00 in a research note on Tuesday, January 9th. Truist Financial dropped their price target on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Stephens restated an “equal weight” rating and issued a $21.00 price target on shares of Regions Financial in a research note on Tuesday, January 23rd. Finally, Barclays reiterated an “underweight” rating and set a $22.00 target price (up from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.34.

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.