Regions Financial Corporation $RF Shares Sold by Xponance Inc.

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

Other institutional investors have also recently added to or reduced their stakes in the company. GAM Holding AG acquired a new stake in shares of Regions Financial during the third quarter worth $1,760,000. Allspring Global Investments Holdings LLC raised its position in Regions Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after buying an additional 233,458 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Regions Financial by 6.8% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock worth $18,204,000 after acquiring an additional 44,252 shares during the period. iA Global Asset Management Inc. acquired a new stake in shares of Regions Financial in the 3rd quarter worth $1,378,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Regions Financial by 111.2% in the third quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after acquiring an additional 152,987 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE RF opened at $27.79 on Monday. The business has a 50 day moving average price of $28.68 and a 200 day moving average price of $26.83. The company has a market capitalization of $24.00 billion, a P/E ratio of 12.13, a PEG ratio of 0.98 and a beta of 1.02. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $31.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts expect that Regions Financial Corporation will post 2.26 EPS 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 shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio is presently 46.29%.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction dated 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 in the company, valued at approximately $505,635.82. The trade was 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. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RF. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Piper Sandler increased their target price on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Barclays lifted their price target on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. UBS Group reiterated a “neutral” rating and issued a $30.00 price objective on shares of Regions Financial in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised their target price on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a report on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $29.84.

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.