Envestnet Asset Management Inc. Has $9.67 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Envestnet Asset Management Inc. boosted its holdings in shares of Regions Financial Co. (NYSE:RF) by 4.7% in the 4th quarter, Holdings Channel reports. The firm owned 411,144 shares of the bank’s stock after buying an additional 18,314 shares during the period. Envestnet Asset Management Inc.’s holdings in Regions Financial were worth $9,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Y.D. More Investments Ltd grew its holdings in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Regions Financial during the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management grew its holdings in Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Regions Financial in the 4th quarter valued at approximately $32,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of Regions Financial during the fourth quarter valued at $44,000. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on RF shares. Wells Fargo & Company decreased their price objective on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Citigroup decreased their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Barclays lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Regions Financial has an average rating of “Moderate Buy” and an average price target of $26.42.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson acquired 2,300 shares of the firm’s stock in a transaction 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 purchase, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 3,343 shares of company stock valued at $74,348 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Price Performance

RF stock opened at $19.26 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The business has a 50-day simple moving average of $21.59 and a two-hundred day simple moving average of $23.55. The company has a market capitalization of $17.44 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96.

Regions Financial (NYSE:RF) last announced its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.19%. Regions Financial’s dividend payout ratio is currently 51.55%.

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.