Jefferies Financial Group Inc. Sells 31,543 Shares of Regions Financial Corporation $RF

Jefferies Financial Group Inc. cut its holdings in Regions Financial Corporation (NYSE:RF) by 21.2% during the third quarter, Holdings Channel reports. The institutional investor owned 117,023 shares of the bank’s stock after selling 31,543 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Regions Financial were worth $3,086,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Empowered Funds LLC grew its holdings in Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after purchasing an additional 1,278 shares during the period. Woodline Partners LP lifted its holdings in shares of Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after purchasing an additional 22,216 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Regions Financial by 8.5% during the second quarter. Savant Capital LLC now owns 82,838 shares of the bank’s stock valued at $1,948,000 after purchasing an additional 6,503 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Regions Financial by 11.3% in the 2nd quarter. Penserra Capital Management LLC now owns 4,974 shares of the bank’s stock worth $116,000 after purchasing an additional 506 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Regions Financial in the 2nd quarter worth approximately $980,000. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RF shares. Piper Sandler raised their price objective on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Truist Financial raised their price target on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research note on Monday, January 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a report on Tuesday, March 3rd. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.97.

Regions Financial Trading Down 0.8%

Regions Financial stock opened at $26.76 on Wednesday. The business has a 50-day simple moving average of $28.66 and a two-hundred day simple moving average of $26.91. The company has a market cap of $23.10 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.95 and a beta of 1.02. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last issued its quarterly earnings data 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). The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.Regions Financial’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. Analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders 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 dividend yield of 4.0%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 46.29%.

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

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were 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 owned 17,569 shares of the company’s stock, valued at $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

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.