Great Lakes Advisors LLC Has $214,000 Stake in Regions Financial Co. (NYSE:RF)

Great Lakes Advisors LLC trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,057 shares of the bank’s stock after selling 2,271 shares during the period. Great Lakes Advisors LLC’s holdings in Regions Financial were worth $214,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RF. Teacher Retirement System of Texas raised its stake in shares of Regions Financial by 2.9% during the third quarter. Teacher Retirement System of Texas now owns 72,693 shares of the bank’s stock worth $1,250,000 after buying an additional 2,025 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Regions Financial by 1.9% during the third quarter. Principal Financial Group Inc. now owns 1,097,016 shares of the bank’s stock worth $18,869,000 after buying an additional 20,229 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Regions Financial by 17.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,491 shares of the bank’s stock worth $387,000 after buying an additional 3,325 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Regions Financial by 3.7% during the third quarter. Private Advisor Group LLC now owns 37,225 shares of the bank’s stock worth $640,000 after buying an additional 1,343 shares during the last quarter. Finally, Syon Capital LLC bought a new stake in shares of Regions Financial during the third quarter worth approximately $364,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Regions Financial

In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director William C. Rhodes III acquired 50,000 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William D. Ritter sold 23,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Regions Financial Stock Performance

Shares of RF opened at $18.92 on Friday. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08. The firm has a fifty day simple moving average of $19.77 and a 200 day simple moving average of $18.68. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 2.13 and a beta of 1.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. Research analysts forecast that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.07%. Regions Financial’s payout ratio is 52.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $23.00 in a research note on Monday, March 18th. StockNews.com downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Truist Financial lowered their target price on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Keefe, Bruyette & Woods upped their target price on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Finally, Evercore ISI upped their target price on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.34.

Regions Financial Company 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.