Regions Financial Corporation $RF Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in shares of Regions Financial Corporation (NYSE:RF) by 8.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 188,125 shares of the bank’s stock after selling 18,039 shares during the quarter. ProShare Advisors LLC’s holdings in Regions Financial were worth $4,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Regions Financial during the second quarter valued at approximately $246,790,000. Arrowstreet Capital Limited Partnership grew its stake in Regions Financial by 620.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock worth $60,293,000 after acquiring an additional 2,207,585 shares during the period. Basswood Capital Management L.L.C. acquired a new position in Regions Financial in the 2nd quarter valued at $24,927,000. Midwest Trust Co acquired a new position in Regions Financial in the 2nd quarter valued at $14,519,000. Finally, Schroder Investment Management Group lifted its stake in shares of Regions Financial by 56.8% during the 2nd quarter. Schroder Investment Management Group now owns 1,558,174 shares of the bank’s stock worth $36,648,000 after purchasing an additional 564,281 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RF shares. Truist Financial lifted their price objective on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. UBS Group reissued a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. Piper Sandler lifted their price target on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a report on Tuesday, January 6th. Finally, Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a research report on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.84.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the transaction, the executive vice president owned 17,569 shares in the company, valued at $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Regions Financial Trading Down 0.2%

NYSE RF opened at $29.73 on Friday. The firm has a market capitalization of $26.07 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a one year low of $17.74 and a one year high of $31.53. The company’s 50 day moving average price is $28.29 and its 200 day moving average price is $26.53.

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

Regions Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a yield of 3.6%. Regions Financial’s dividend payout ratio (DPR) is 46.29%.

Regions Financial declared that its board has approved a stock repurchase program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

About Regions Financial

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.