Vanguard Group Inc. Has $2.64 Billion Stake in Regions Financial Co. (NYSE:RF)

Vanguard Group Inc. decreased its holdings in Regions Financial Co. (NYSE:RF) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 112,419,329 shares of the bank’s stock after selling 654,703 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Regions Financial worth $2,644,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RF. Thrivent Financial for Lutherans increased its position in Regions Financial by 9.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 79,453 shares of the bank’s stock valued at $1,855,000 after acquiring an additional 6,665 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Regions Financial by 9.7% during the third quarter. Cerity Partners LLC now owns 483,032 shares of the bank’s stock valued at $11,269,000 after purchasing an additional 42,520 shares during the last quarter. Centaurus Financial Inc. increased its holdings in shares of Regions Financial by 5.9% in the third quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock valued at $228,000 after purchasing an additional 540 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Regions Financial by 11.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 111,293 shares of the bank’s stock worth $2,596,000 after purchasing an additional 11,087 shares during the last quarter. Finally, Independent Advisor Alliance lifted its holdings in Regions Financial by 3.2% during the 3rd quarter. Independent Advisor Alliance now owns 42,381 shares of the bank’s stock worth $989,000 after buying an additional 1,315 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Up 0.8 %

Shares of RF stock opened at $22.44 on Wednesday. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average of $23.40 and a 200-day moving average of $23.96. The company has a market capitalization of $20.32 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.86 billion. During the same period last year, the business earned $0.39 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.46%. Regions Financial’s payout ratio is 51.55%.

Insiders Place Their Bets

In other news, Director Joia M. Johnson bought 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have bought 3,993 shares of company stock valued at $89,682. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RF shares. Barclays upped their price target on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Compass Point boosted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Truist Financial dropped their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $27.28.

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.