Vanguard Group Inc. Reduces Stock Holdings in Regions Financial Corporation $RF

Vanguard Group Inc. reduced its holdings in shares of Regions Financial Corporation (NYSE:RF) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,156,820 shares of the bank’s stock after selling 738,551 shares during the period. Vanguard Group Inc. owned approximately 12.01% of Regions Financial worth $2,825,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RF. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial during the second quarter valued at about $25,000. CVA Family Office LLC grew its position in Regions Financial by 163.2% during the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares during the last quarter. United Community Bank acquired a new position in Regions Financial during the 3rd quarter valued at approximately $30,000. Salomon & Ludwin LLC purchased a new position in shares of Regions Financial in the third quarter worth $32,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Regions Financial during the second quarter worth $30,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a report on Friday, January 16th. Barclays lifted their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Evercore downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $27.00 to $29.00 in a report on Tuesday, January 6th. Finally, UBS Group reissued a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a research report on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.84.

Regions Financial Trading Up 1.1%

Regions Financial stock opened at $30.11 on Thursday. The firm has a market cap of $26.40 billion, a PE ratio of 13.15, a P/E/G ratio of 1.06 and a beta of 1.04. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $31.53. The stock’s 50 day simple moving average is $28.48 and its two-hundred day simple moving average is $26.63. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last posted its 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 firm 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 firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed 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 3.5%. The ex-dividend date is Monday, March 2nd. Regions Financial’s payout ratio is 46.29%.

Regions Financial announced that its board has initiated a share buyback program on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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 completion of the sale, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

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.