First Horizon Advisors Inc. Reduces Position in Regions Financial Co. (NYSE:RF)

First Horizon Advisors Inc. lowered its holdings in Regions Financial Co. (NYSE:RF) by 70.7% in the fourth quarter, HoldingsChannel reports. The firm owned 10,308 shares of the bank’s stock after selling 24,857 shares during the period. First Horizon Advisors Inc.’s holdings in Regions Financial were worth $200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Regions Financial by 2.7% during the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock worth $1,970,871,000 after purchasing an additional 2,982,310 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Regions Financial by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after buying an additional 4,160,768 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Regions Financial by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after acquiring an additional 618,384 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Regions Financial by 15.1% in the 3rd quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock valued at $190,682,000 after acquiring an additional 1,455,499 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Regions Financial by 13.4% during the 3rd quarter. Northern Trust Corp now owns 10,761,543 shares of the bank’s stock valued at $185,099,000 after acquiring an additional 1,268,045 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

RF opened at $19.80 on Monday. The business has a 50 day moving average price of $19.55 and a two-hundred day moving average price of $18.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $18.19 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $21.08.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the business earned $0.62 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts predict that Regions Financial Co. will post 1.95 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.85%. Regions Financial’s payout ratio is currently 52.17%.

Insider Activity at Regions Financial

In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Jefferies Financial Group raised shares of Regions Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $15.00 to $22.00 in a report on Tuesday, January 9th. Morgan Stanley lowered their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Piper Sandler upped their price objective on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus target price of $20.34.

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.