Regions Financial Co. (NYSE:RF) Stock Holdings Lowered by Vanguard Group Inc.

Vanguard Group Inc. cut its position in Regions Financial Co. (NYSE:RF) by 1.6% during the 1st quarter, HoldingsChannel reports. The firm owned 115,790,306 shares of the bank’s stock after selling 1,914,449 shares during the quarter. Vanguard Group Inc. owned approximately 0.13% of Regions Financial worth $2,436,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC raised its holdings in shares of Regions Financial by 86.5% during the fourth 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 during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Regions Financial in the 4th quarter valued at approximately $28,000. Glassman Wealth Services raised its stake in Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after acquiring an additional 967 shares in the last quarter. MV Capital Management Inc. boosted its position in Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares during the period. Finally, Global Retirement Partners LLC grew its stake in shares of Regions Financial by 113.0% in the fourth quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock worth $45,000 after purchasing an additional 1,322 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Performance

RF remained flat at $22.09 during trading on Friday. The company had a trading volume of 18,490,759 shares, compared to its average volume of 8,137,447. The company has a 50-day moving average of $19.60 and a 200-day moving average of $19.31. 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 firm has a market capitalization of $20.23 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 2.53 and a beta of 1.18. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $22.64.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, sell-side analysts expect that Regions Financial Co. will post 1.96 EPS for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid 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 annualized dividend and a yield of 4.53%. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s payout ratio is 52.17%.

Insider Activity

In other news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 purchased at an average price 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Evercore ISI cut their price objective 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, June 25th. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Jefferies Financial Group increased their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Truist Financial raised their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Finally, Morgan Stanley decreased their price target on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $20.39.

About Regions Financial

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.