Vanguard Group Inc. Acquires 3,119,237 Shares of Regions Financial Co. (NYSE:RF)

Vanguard Group Inc. raised its holdings in Regions Financial Co. (NYSE:RF) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,704,755 shares of the bank’s stock after purchasing an additional 3,119,237 shares during the period. Vanguard Group Inc. owned approximately 12.81% of Regions Financial worth $2,281,118,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of Regions Financial by 4.9% during the 3rd quarter. Van ECK Associates Corp now owns 23,375 shares of the bank’s stock worth $402,000 after acquiring an additional 1,098 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Regions Financial during the 3rd quarter worth approximately $1,575,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Regions Financial during the 3rd quarter worth approximately $5,916,000. Nordea Investment Management AB lifted its holdings in shares of Regions Financial by 5.9% during the 3rd quarter. Nordea Investment Management AB now owns 159,566 shares of the bank’s stock worth $2,773,000 after acquiring an additional 8,957 shares during the period. Finally, FMR LLC lifted its holdings in shares of Regions Financial by 0.3% during the 3rd quarter. FMR LLC now owns 2,625,990 shares of the bank’s stock worth $45,167,000 after acquiring an additional 8,274 shares during the period. Institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial lowered their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Keefe, Bruyette & Woods upped their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Morgan Stanley lowered their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Finally, Evercore ISI upped their price objective on shares of Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.34.

Regions Financial Trading Up 1.3 %

RF opened at $18.90 on Tuesday. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $21.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $19.32 and a 200-day moving average of $19.07. The stock has a market cap of $17.31 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. On average, sell-side analysts predict that Regions Financial Co. will post 1.96 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.08%. The ex-dividend date is Monday, June 3rd. Regions Financial’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. Also, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

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.