Regions Financial Corporation $RF Shares Sold by Aberdeen Group plc

Aberdeen Group plc decreased its position in shares of Regions Financial Corporation (NYSE:RF) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 843,335 shares of the bank’s stock after selling 35,397 shares during the period. Aberdeen Group plc’s holdings in Regions Financial were worth $21,990,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAM Holding AG bought a new position in Regions Financial in the third quarter worth about $1,760,000. Allspring Global Investments Holdings LLC raised its position in shares of 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 purchasing an additional 233,458 shares during the period. First Citizens Bank & Trust Co. lifted its holdings 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 purchasing an additional 44,252 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Regions Financial in the 3rd quarter worth approximately $1,378,000. Finally, Teacher Retirement System of Texas boosted its position in Regions Financial by 111.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after purchasing an additional 152,987 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 0.1%

Regions Financial stock opened at $29.78 on Wednesday. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $31.53. The stock has a market cap of $26.11 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.05 and a beta of 1.04. The company’s 50-day moving average price is $28.43 and its two-hundred day moving average price is $26.60. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

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

Regions Financial announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Regions Financial Announces Dividend

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. This represents a $1.06 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio is 46.29%.

Insider Transactions at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. The trade was a 67.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RF shares. TD Cowen reaffirmed a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 price target on shares of Regions Financial in a research report on Tuesday, January 20th. Evercore cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $27.00 to $29.00 in a report on Tuesday, January 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Regions Financial in a research report on Tuesday, January 6th. Finally, Truist Financial upped their target price on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Six equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.84.

Regions Financial 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.