Versor Investments LP Has $560,000 Holdings in Regions Financial Corporation $RF

Versor Investments LP decreased its stake in Regions Financial Corporation (NYSE:RF) by 66.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,242 shares of the bank’s stock after selling 42,000 shares during the period. Versor Investments LP’s holdings in Regions Financial were worth $560,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. GAM Holding AG bought a new stake in Regions Financial during the third quarter worth $1,760,000. Allspring Global Investments Holdings LLC increased its stake in shares of Regions Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after purchasing an additional 233,458 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Regions Financial by 6.8% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock valued at $18,204,000 after purchasing an additional 44,252 shares during the period. iA Global Asset Management Inc. acquired a new stake in Regions Financial in the 3rd quarter valued at about $1,378,000. Finally, Teacher Retirement System of Texas grew its holdings in Regions Financial by 111.2% during the third quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock worth $7,662,000 after purchasing an additional 152,987 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group restated a “neutral” rating and issued a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. JPMorgan Chase & Co. increased their price target on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research note on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a research report on Tuesday, January 20th. Morgan Stanley set a $31.00 price objective on shares of Regions Financial in a report on Monday, January 19th. Finally, Evercore downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $27.00 to $29.00 in a report on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.84.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Regions Financial Stock Up 0.4%

RF opened at $30.96 on Thursday. The stock has a fifty day moving average of $28.16 and a 200-day moving average of $26.48. The company has a market capitalization of $27.15 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.09 and a beta of 1.04. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $0.56 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a dividend yield of 3.4%. Regions Financial’s dividend payout ratio (DPR) is currently 46.29%.

Regions Financial announced that its board has authorized a share repurchase plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to repurchase up to 12.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.