Wells Fargo & Company MN Sells 513,604 Shares of Regions Financial Co. (NYSE:RF)

Wells Fargo & Company MN trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,313,822 shares of the bank’s stock after selling 513,604 shares during the quarter. Wells Fargo & Company MN owned 0.69% of Regions Financial worth $148,501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Quarry LP raised its stake in shares of Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after acquiring an additional 394 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in Regions Financial in the 3rd quarter worth about $453,000. EP Wealth Advisors LLC bought a new stake in Regions Financial in the third quarter worth about $957,000. National Bank of Canada FI boosted its position in shares of Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after buying an additional 1,452,956 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Regions Financial during the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have bought 3,868 shares of company stock valued at $86,722. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the subject of a number of recent analyst reports. Compass Point boosted their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Truist Financial lowered their price objective 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. Citigroup reduced their target price on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Barclays boosted their price target on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and a consensus price target of $26.95.

Regions Financial Stock Down 4.9 %

Shares of RF stock opened at $18.64 on Monday. The stock’s fifty day moving average price is $22.88 and its 200 day moving average price is $23.89. The company has a market cap of $16.88 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, research analysts expect 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 was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial’s dividend payout ratio is currently 51.55%.

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.