Regions Financial Co. (NYSE:RF) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lessened its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 946,555 shares of the bank's stock after selling 85,705 shares during the quarter. Grimes & Company Inc. owned 0.10% of Regions Financial worth $22,083,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Private Advisor Group LLC raised its holdings in shares of Regions Financial by 1.8% in the 3rd quarter. Private Advisor Group LLC now owns 24,928 shares of the bank's stock valued at $581,000 after buying an additional 429 shares during the period. CWM LLC increased its stake in Regions Financial by 1.1% during the third quarter. CWM LLC now owns 42,346 shares of the bank's stock worth $988,000 after purchasing an additional 480 shares during the period. Resonant Capital Advisors LLC lifted its position in shares of Regions Financial by 2.4% during the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank's stock worth $515,000 after purchasing an additional 506 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Regions Financial by 2.8% in the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank's stock valued at $473,000 after purchasing an additional 545 shares during the period. Finally, IFG Advisory LLC grew its holdings in shares of Regions Financial by 1.8% in the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank's stock valued at $620,000 after purchasing an additional 546 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RF has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Regions Financial from $22.00 to $21.00 and set a "market perform" rating on the stock in a report on Tuesday, July 9th. Truist Financial lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Monday. Citigroup upped their price target on Regions Financial from $25.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Royal Bank of Canada lifted their price objective on Regions Financial from $21.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Finally, Evercore ISI upped their target price on shares of Regions Financial from $24.50 to $26.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $23.88.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.11 on Thursday, hitting $23.75. The stock had a trading volume of 9,158,175 shares, compared to its average volume of 7,944,363. The stock has a market cap of $21.75 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.80 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $24.47. The company's 50 day moving average price is $22.87 and its 200 day moving average price is $20.98.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, research analysts anticipate that Regions Financial Co. will post 2.02 EPS for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. Regions Financial's dividend payout ratio (DPR) is 54.35%.

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.