Charles Schwab Investment Management Inc. Sells 9,302 Shares of Regions Financial Co. (NYSE:RF)

Charles Schwab Investment Management Inc. cut its stake in shares of Regions Financial Co. (NYSE:RF) by 0.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,160,574 shares of the bank’s stock after selling 9,302 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Regions Financial were worth $390,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RF. Wellington Management Group LLP increased its holdings in Regions Financial by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after acquiring an additional 4,160,768 shares during the period. Bahl & Gaynor Inc. increased its holdings in shares of Regions Financial by 162.1% in the third quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock worth $101,559,000 after purchasing an additional 3,651,390 shares during the period. Vanguard Group Inc. raised its position in shares of Regions Financial by 2.7% in the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock worth $1,970,871,000 after buying an additional 2,982,310 shares in the last quarter. Invesco Ltd. boosted its stake in Regions Financial by 15.1% during the third quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock valued at $190,682,000 after buying an additional 1,455,499 shares during the period. Finally, Northern Trust Corp boosted its stake in Regions Financial by 13.4% during the third quarter. Northern Trust Corp now owns 10,761,543 shares of the bank’s stock valued at $185,099,000 after buying an additional 1,268,045 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the purchase, the director now owns 50,000 shares in the company, valued at approximately $968,500. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on RF shares. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $15.00 to $22.00 in a research report on Tuesday, January 9th. Stephens reissued an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a research note on Tuesday, January 23rd. Piper Sandler lifted their price target on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Truist Financial decreased their price objective on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $20.34.

Regions Financial Trading Down 0.1 %

RF traded down $0.02 during midday trading on Wednesday, reaching $19.63. 5,294,297 shares of the company’s stock traded hands, compared to its average volume of 8,511,807. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a fifty day moving average of $19.61 and a two-hundred day moving average of $18.29. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 1.45 and a beta of 1.21.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. On average, equities analysts anticipate that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 4.89%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

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.