Wells Fargo & Company MN Has $113.67 Million Stake in Regions Financial Co. (NYSE:RF)

Wells Fargo & Company MN decreased its position in shares of Regions Financial Co. (NYSE:RF) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,865,533 shares of the bank’s stock after selling 872,734 shares during the period. Wells Fargo & Company MN owned about 0.63% of Regions Financial worth $113,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RF. Sound Income Strategies LLC boosted its stake in Regions Financial by 103.2% in the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after acquiring an additional 750 shares during the last quarter. HM Payson & Co. boosted its position in shares of Regions Financial by 2,000.0% during the third quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock worth $36,000 after purchasing an additional 2,000 shares in the last quarter. West Paces Advisors Inc. boosted its position in shares of Regions Financial by 277.2% during the third quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock worth $41,000 after purchasing an additional 1,752 shares in the last quarter. Baker Avenue Asset Management LP boosted its position in shares of Regions Financial by 69.4% during the third quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in Regions Financial by 113.0% in the 4th quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,322 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 2.2 %

Shares of NYSE RF opened at $19.46 on Thursday. The firm has a market cap of $17.82 billion, a PE ratio of 10.58, a P/E/G ratio of 2.18 and a beta of 1.21. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The company’s fifty day simple moving average is $19.77 and its 200 day simple moving average is $18.68. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.75 billion. During the same period last year, the business posted $0.62 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

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 paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Morgan Stanley lowered their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Evercore ISI upped their price target 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. Finally, Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial currently has an average rating of “Hold” and an average target price of $20.34.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 23,000 shares of the business’s 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 transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction dated 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 transaction, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Regions Financial 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.