HighTower Advisors LLC Boosts Stock Position in Regions Financial Co. (NYSE:RF)

HighTower Advisors LLC boosted its position in shares of Regions Financial Co. (NYSE:RF) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,977 shares of the bank’s stock after acquiring an additional 6,723 shares during the quarter. HighTower Advisors LLC’s holdings in Regions Financial were worth $5,033,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp grew its stake in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. National Bank of Canada FI raised its holdings in Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after acquiring an additional 1,452,956 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Regions Financial during the 4th quarter worth approximately $31,480,000. Finally, Allianz Asset Management GmbH increased its position in shares of Regions Financial by 247.0% in the 4th quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock valued at $40,891,000 after purchasing an additional 1,237,538 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of NYSE:RF opened at $21.77 on Thursday. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The stock has a market capitalization of $19.71 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.93 and a beta of 1.19. The company has a 50-day simple moving average of $23.53 and a 200-day simple moving average of $23.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business earned $0.39 EPS. The firm’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio is presently 51.55%.

Wall Street Analyst Weigh In

RF has been the subject of several recent analyst reports. Compass Point lifted their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Citigroup lowered their price objective on Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Barclays raised their target price on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Piper Sandler upped their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 4,523 shares of company stock worth $102,269 in the last three months. Insiders own 0.29% of the company’s stock.

Regions Financial Company 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.