Regions Financial Co. (NYSE:RF) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. trimmed its holdings in Regions Financial Co. (NYSE:RF) by 90.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,914 shares of the bank’s stock after selling 82,977 shares during the quarter. Cambridge Trust Co.’s holdings in Regions Financial were worth $173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RF. Norges Bank purchased a new stake in Regions Financial during the fourth quarter worth $201,607,000. First Trust Advisors LP raised its position in shares of Regions Financial by 296.5% in the first 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. Wellington Management Group LLP grew its position in shares of Regions Financial by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after acquiring an additional 4,160,768 shares during the period. Bahl & Gaynor Inc. grew its position in shares of Regions Financial by 162.1% during the 3rd quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock valued at $101,559,000 after acquiring an additional 3,651,390 shares during the period. Finally, Holocene Advisors LP acquired a new position in Regions Financial in the 2nd quarter worth about $53,327,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RF shares. Evercore ISI boosted their price objective on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Morgan Stanley lifted their price objective on Regions Financial from $21.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods increased their target price on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Finally, Truist Financial raised their target price on Regions Financial from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.39.

Regions Financial Trading Down 0.5 %

Shares of RF opened at $18.91 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $19.32 and a 200 day moving average price of $17.99. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The firm has a market capitalization of $17.38 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.37 and a beta of 1.21.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. Sell-side analysts forecast that Regions Financial Co. will post 1.98 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 5.08%. Regions Financial’s dividend payout ratio (DPR) is 45.93%.

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.