Russell Investments Group Ltd. Acquires 25,046 Shares of Regions Financial Corporation $RF

Russell Investments Group Ltd. lifted its holdings in Regions Financial Corporation (NYSE:RF) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,422,215 shares of the bank’s stock after buying an additional 25,046 shares during the quarter. Russell Investments Group Ltd.’s holdings in Regions Financial were worth $63,890,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RF. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock valued at $740,511,000 after acquiring an additional 391,568 shares during the period. Geode Capital Management LLC grew its holdings in Regions Financial by 0.5% in the second quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock worth $557,370,000 after purchasing an additional 109,549 shares during the period. Victory Capital Management Inc. increased its stake in shares of Regions Financial by 52.9% during the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after purchasing an additional 4,679,285 shares in the last quarter. Norges Bank bought a new position in shares of Regions Financial during the second quarter valued at approximately $246,790,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Regions Financial by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Trading Down 0.8%

Shares of NYSE RF opened at $26.76 on Wednesday. The firm’s 50 day moving average price is $28.66 and its 200-day moving average price is $26.91. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $31.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $23.10 billion, a PE ratio of 11.68, a P/E/G ratio of 0.95 and a beta of 1.02.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business earned $0.56 EPS. Regions Financial’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial announced that its board has approved a stock repurchase plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 46.29%.

Insider Activity at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

RF has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 price target on shares of Regions Financial in a research report on Tuesday, January 6th. JPMorgan Chase & Co. raised their price objective on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Morgan Stanley set a $31.00 target price on Regions Financial in a report on Monday, January 19th. Finally, Wells Fargo & Company cut Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a research note on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.97.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.