CIBC Private Wealth Group LLC Sells 1,396 Shares of Regions Financial Co. (NYSE:RF)

CIBC Private Wealth Group LLC lessened its holdings in Regions Financial Co. (NYSE:RF) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,192 shares of the bank’s stock after selling 1,396 shares during the period. CIBC Private Wealth Group LLC’s holdings in Regions Financial were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after buying an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after buying an additional 315,605 shares in the last quarter. Norges Bank bought a new position in shares of Regions Financial in the fourth quarter valued at approximately $279,103,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Regions Financial by 1.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock worth $203,273,000 after acquiring an additional 112,885 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

RF opened at $18.64 on Friday. The stock has a market cap of $16.88 billion, a P/E ratio of 9.61, a P/E/G ratio of 1.93 and a beta of 1.01. 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 company has a fifty day simple moving average of $22.88 and a 200 day simple moving average of $23.88.

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

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.36%. Regions Financial’s payout ratio is 51.55%.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson bought 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 3,868 shares of company stock valued at $86,722. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday. Compass Point raised their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays increased their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Truist Financial lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and an average price target of $26.95.

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.