Bahl & Gaynor Inc. Sells 701,422 Shares of Regions Financial Co. (NYSE:RF)

Bahl & Gaynor Inc. lessened its holdings in shares of Regions Financial Co. (NYSE:RF) by 51.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 668,946 shares of the bank’s stock after selling 701,422 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Regions Financial were worth $13,406,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Private Advisor Group LLC lifted its position in Regions Financial by 7.7% in the 4th quarter. Private Advisor Group LLC now owns 40,089 shares of the bank’s stock worth $777,000 after buying an additional 2,864 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in Regions Financial in the 4th quarter worth approximately $226,000. Principal Securities Inc. purchased a new position in Regions Financial in the 4th quarter worth approximately $92,000. BNP Paribas Financial Markets increased its stake in Regions Financial by 52.5% in the 4th quarter. BNP Paribas Financial Markets now owns 1,012,651 shares of the bank’s stock worth $19,625,000 after purchasing an additional 348,636 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Regions Financial by 8.1% in the 4th quarter. QRG Capital Management Inc. now owns 99,012 shares of the bank’s stock worth $1,919,000 after purchasing an additional 7,459 shares during the period. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the topic of a number of analyst reports. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. Morgan Stanley boosted their target price on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their target price on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Bank of America boosted their target price on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Truist Financial boosted their target price on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.51.

Regions Financial Trading Down 1.4 %

Regions Financial stock opened at $22.00 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $21.73 and its two-hundred day simple moving average is $20.23. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $23.47. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities analysts predict that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is presently 54.35%.

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.