Regions Financial Corporation $RF Shares Sold by Xponance Inc.

Xponance Inc. reduced its holdings in shares of Regions Financial Corporation (NYSE:RF) by 19.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,987 shares of the bank’s stock after selling 35,464 shares during the period. Xponance Inc.’s holdings in Regions Financial were worth $3,929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DNB Asset Management AS increased its position in shares of Regions Financial by 7.9% during the third quarter. DNB Asset Management AS now owns 166,755 shares of the bank’s stock worth $4,397,000 after acquiring an additional 12,167 shares during the period. Choreo LLC grew its stake in Regions Financial by 11.0% during the 3rd quarter. Choreo LLC now owns 38,008 shares of the bank’s stock worth $1,012,000 after purchasing an additional 3,762 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Regions Financial by 4.8% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,790,275 shares of the bank’s stock worth $47,210,000 after purchasing an additional 81,879 shares during the period. Thornburg Investment Management Inc. raised its position in Regions Financial by 0.6% in the 3rd quarter. Thornburg Investment Management Inc. now owns 4,624,765 shares of the bank’s stock valued at $121,955,000 after purchasing an additional 28,669 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Regions Financial by 2.4% in the 3rd quarter. US Bancorp DE now owns 110,965 shares of the bank’s stock valued at $2,926,000 after buying an additional 2,583 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 5.4%

NYSE RF opened at $27.79 on Monday. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $31.53. The company has a market capitalization of $24.00 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s fifty day moving average price is $28.68 and its 200 day moving average price is $26.83.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a yield of 3.8%. Regions Financial’s payout ratio is 46.29%.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on RF shares. Evercore lowered shares of Regions Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Barclays boosted their price target on shares of Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Truist Financial boosted their target price on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 target price on shares of Regions Financial in a report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.84.

Insiders Place Their Bets

In other news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Company Profile

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.