Sunburst Financial Group LLC Sells 1,490 Shares of Regions Financial Co. (NYSE:RF)

Sunburst Financial Group LLC lessened its position in shares of Regions Financial Co. (NYSE:RF) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,461 shares of the bank’s stock after selling 1,490 shares during the period. Sunburst Financial Group LLC’s holdings in Regions Financial were worth $647,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC raised its position in shares of Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after buying an additional 649 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in Regions Financial during the fourth quarter valued at approximately $28,000. Sound Income Strategies LLC lifted its stake in Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after purchasing an additional 750 shares during the last quarter. Glassman Wealth Services boosted its holdings in shares of Regions Financial by 163.3% in the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 shares in the last quarter. Finally, West Paces Advisors Inc. increased its stake in shares of Regions Financial by 277.2% in the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,752 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 3.5 %

Regions Financial stock traded up $0.68 during midday trading on Friday, reaching $19.88. The stock had a trading volume of 2,796,825 shares, compared to its average volume of 7,981,328. The company has a fifty day moving average price of $19.27 and a two-hundred day moving average price of $19.14. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $18.21 billion, a P/E ratio of 10.43, a PEG ratio of 2.06 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company earned $0.62 earnings per share. Regions Financial’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities analysts expect that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.83%. Regions Financial’s dividend payout ratio is presently 52.17%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Evercore ISI decreased their target price on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Finally, Piper Sandler lifted their price target on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.28.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III acquired 50,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the purchase, the director now owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William D. Ritter sold 23,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.