Pzena Investment Management LLC Has $48.52 Million Position in Regions Financial Corporation $RF

Pzena Investment Management LLC lessened its holdings in Regions Financial Corporation (NYSE:RF) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,839,825 shares of the bank’s stock after selling 59,407 shares during the period. Pzena Investment Management LLC owned 0.21% of Regions Financial worth $48,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Regions Financial in the second quarter valued at about $246,790,000. Arrowstreet Capital Limited Partnership grew its stake in Regions Financial by 620.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock valued at $60,293,000 after buying an additional 2,207,585 shares during the last quarter. Basswood Capital Management L.L.C. bought a new position in Regions Financial in the 2nd quarter valued at about $24,927,000. Midwest Trust Co acquired a new stake in Regions Financial during the second quarter worth approximately $14,519,000. Finally, Schroder Investment Management Group lifted its position in Regions Financial by 56.8% during the second quarter. Schroder Investment Management Group now owns 1,558,174 shares of the bank’s stock worth $36,648,000 after acquiring an additional 564,281 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Regions Financial

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RF shares. Morgan Stanley set a $31.00 target price on Regions Financial in a research note on Monday, January 19th. Barclays upped their price target on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a report on Friday, January 16th. Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a research note on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.84.

Regions Financial Price Performance

Regions Financial stock opened at $30.11 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $31.53. The stock has a market capitalization of $26.40 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.06 and a beta of 1.04. The stock has a fifty day moving average of $28.48 and a 200-day moving average of $26.63.

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

Regions Financial declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $0.265 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.06 annualized dividend and a yield of 3.5%. Regions Financial’s dividend payout ratio (DPR) is currently 46.29%.

About Regions Financial

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.