Commonwealth Equity Services LLC Trims Position in Regions Financial Co. (NYSE:RF)

Commonwealth Equity Services LLC lessened its stake in Regions Financial Co. (NYSE:RF) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,259 shares of the bank’s stock after selling 11,983 shares during the period. Commonwealth Equity Services LLC’s holdings in Regions Financial were worth $4,992,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RF. Citigroup Inc. grew its holdings in Regions Financial by 20.0% during the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after acquiring an additional 253,708 shares in the last quarter. Aigen Investment Management LP bought a new position in Regions Financial during the 4th quarter worth about $1,965,000. Aprio Wealth Management LLC bought a new position in Regions Financial during the 4th quarter worth about $1,247,000. Nordea Investment Management AB grew its holdings in Regions Financial by 60.4% during the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after acquiring an additional 99,115 shares in the last quarter. Finally, Vest Financial LLC grew its holdings in Regions Financial by 20.4% during the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock worth $34,806,000 after acquiring an additional 250,729 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $21.68 on Friday. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $19.63 billion, a PE ratio of 11.17, a P/E/G ratio of 1.93 and a beta of 1.19. The firm has a 50 day moving average of $23.46 and a two-hundred day moving average of $23.95.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm posted $0.39 EPS. Regions Financial’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio is presently 51.55%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RF. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. The Goldman Sachs Group raised their price target on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler raised their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup lowered their price target on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, Truist Financial lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.44.

Insiders Place Their Bets

In other news, Director Joia M. Johnson bought 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 3,993 shares of company stock valued at $89,682. 0.29% of the stock is owned by insiders.

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.