MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 105,931 Shares of Regions Financial Corporation $RF

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its stake in Regions Financial Corporation (NYSE:RF) by 32.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,452 shares of the bank’s stock after selling 105,931 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Regions Financial were worth $4,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bayforest Capital Ltd grew its stake in shares of Regions Financial by 637.3% in the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after acquiring an additional 1,058 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Regions Financial in the first quarter worth $36,000. Grove Bank & Trust grew its stake in shares of Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock worth $41,000 after acquiring an additional 814 shares during the last quarter. Groupe la Francaise acquired a new stake in shares of Regions Financial in the first quarter worth $41,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Regions Financial in the first quarter worth $58,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger W. Jenkins acquired 4,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director owned 6,383 shares in the company, valued at approximately $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Regions Financial Stock Up 0.0%

Shares of NYSE:RF opened at $27.05 on Friday. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The company’s fifty day moving average is $25.86 and its 200-day moving average is $22.97. The company has a market capitalization of $24.14 billion, a PE ratio of 12.58, a P/E/G ratio of 1.55 and a beta of 1.02.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s dividend payout ratio is presently 49.30%.

Wall Street Analyst Weigh In

RF has been the topic of several research analyst reports. Truist Financial restated a “hold” rating on shares of Regions Financial in a research note on Friday, May 23rd. Cantor Fitzgerald initiated coverage on shares of Regions Financial in a research note on Wednesday. They issued an “overweight” rating and a $30.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Barclays reiterated an “underweight” rating and set a $27.00 price target (up previously from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.47.

Regions Financial 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.