CreativeOne Wealth LLC Trims Stock Position in Regions Financial Co. (NYSE:RF)

CreativeOne Wealth LLC trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,126 shares of the bank’s stock after selling 4,847 shares during the quarter. CreativeOne Wealth LLC’s holdings in Regions Financial were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in Regions Financial during the 4th quarter worth $279,103,000. Invesco Ltd. boosted its holdings in Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after purchasing an additional 1,963,954 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after purchasing an additional 1,396,647 shares during the period. Raymond James Financial Inc. acquired a new position in Regions Financial during the 4th quarter worth approximately $31,480,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Regions Financial by 247.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock worth $40,891,000 after buying an additional 1,237,538 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

NYSE:RF opened at $19.26 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $17.44 billion, a PE ratio of 9.93, a P/E/G ratio of 1.93 and a beta of 1.01. The firm has a 50 day simple moving average of $21.69 and a 200-day simple moving average of $23.58. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $0.37 EPS. On average, equities analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 5.19%. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup dropped their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Wells Fargo & Company cut their price target on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Truist Financial decreased their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Morgan Stanley dropped their target price on shares of Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their price target on Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.42.

Insiders Place Their Bets

In related news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, for a total transaction 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 filing with the SEC, which is available at this link. In the last ninety days, insiders have acquired 3,343 shares of company stock valued at $74,348. Insiders own 0.29% of the company’s stock.

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.