Regions Financial Corporation $RF Shares Sold by Aberdeen Group plc

Aberdeen Group plc lowered its position in shares of Regions Financial Corporation (NYSE:RF) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 843,335 shares of the bank’s stock after selling 35,397 shares during the quarter. Aberdeen Group plc owned 0.09% of Regions Financial worth $21,990,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in RF. CVA Family Office LLC raised its holdings in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the 2nd quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new position in Regions Financial during the 2nd quarter worth approximately $30,000. United Community Bank acquired a new position in Regions Financial during the 3rd quarter worth approximately $30,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Regions Financial during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the transaction, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. The trade was a 67.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Regions Financial Stock Performance

Shares of RF stock opened at $29.78 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market cap of $26.11 billion, a PE ratio of 13.00, a P/E/G ratio of 1.05 and a beta of 1.04. The company’s fifty day simple moving average is $28.43 and its 200-day simple moving average is $26.60. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $31.53.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) 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 company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial declared that its board has approved a share repurchase program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to repurchase up to 12.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $0.265 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.6%. Regions Financial’s dividend payout ratio (DPR) is 46.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wells Fargo & Company downgraded Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research note on Friday, January 16th. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Piper Sandler boosted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. UBS Group reaffirmed a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a report on Monday, February 9th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $29.84.

Regions Financial Profile

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.