Regions Financial Co. (NYSE:RF) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in shares of Regions Financial Co. (NYSE:RFFree Report) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,852,820 shares of the bank’s stock after selling 230,485 shares during the quarter. First Trust Advisors LP owned about 1.38% of Regions Financial worth $249,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Regions Financial by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock worth $1,970,871,000 after buying an additional 2,982,310 shares during the period. Wellington Management Group LLP raised its holdings in Regions Financial by 8.4% in the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after buying an additional 4,160,768 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock valued at $346,922,000 after buying an additional 618,384 shares in the last quarter. Invesco Ltd. grew its stake in Regions Financial by 15.1% during the third quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock worth $190,682,000 after buying an additional 1,455,499 shares during the period. Finally, Norges Bank acquired a new stake in shares of Regions Financial in the fourth quarter worth $210,379,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $18.74 on Thursday. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The firm has a market cap of $17.16 billion, a PE ratio of 10.18, a P/E/G ratio of 2.04 and a beta of 1.19. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $19.62 and a 200-day simple moving average of $18.91.

Regions Financial (NYSE:RFGet Free Report) 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts predict that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 5.12%. Regions Financial’s payout ratio is presently 52.17%.

Analyst Ratings Changes

Several equities analysts recently weighed in on RF shares. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Morgan Stanley reduced their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Truist Financial dropped their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Evercore ISI increased their price objective on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, Piper Sandler upped their target price on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average target price of $20.34.

View Our Latest Analysis on RF

Insider Activity

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

About Regions Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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