LSV Asset Management Reduces Stake in Regions Financial Co. (NYSE:RF)

LSV Asset Management decreased its stake in shares of Regions Financial Co. (NYSE:RF) by 4.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,393,615 shares of the bank’s stock after selling 637,973 shares during the period. LSV Asset Management owned 1.35% of Regions Financial worth $260,762,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RF. Vanguard Group Inc. raised its holdings in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after acquiring an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Regions Financial by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after acquiring an additional 1,951,026 shares in the last quarter. Norges Bank purchased a new stake in shares of Regions Financial in the 4th quarter valued at about $210,379,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Regions Financial by 1.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after acquiring an additional 103,529 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Regions Financial by 4.7% in the 3rd quarter. Deutsche Bank AG now owns 4,059,601 shares of the bank’s stock valued at $69,825,000 after acquiring an additional 180,446 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling at Regions Financial

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

Regions Financial Stock Performance

NYSE:RF traded down $0.24 during mid-day trading on Friday, hitting $20.47. 11,428,755 shares of the company traded hands, compared to its average volume of 8,075,916. The stock’s fifty day moving average price is $19.39 and its 200-day moving average price is $19.23. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. 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 firm has a market cap of $18.75 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 2.31 and a beta of 1.18.

Regions Financial (NYSE:RF) last announced its quarterly earnings data 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 net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Regions Financial’s revenue was down 10.5% on a year-over-year basis. Research analysts anticipate that Regions Financial Co. will post 1.96 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.69%. Regions Financial’s dividend payout ratio is currently 52.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler increased their price objective on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods reduced their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday. Evercore ISI reduced their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley reduced their price target on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Truist Financial lifted their price objective on Regions Financial from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $20.39.

About Regions Financial

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.