Pictet Asset Management Holding SA Sells 90,374 Shares of Regions Financial Corporation $RF

Pictet Asset Management Holding SA lowered its position in Regions Financial Corporation (NYSE:RF) by 14.8% during the first quarter, Holdings Channel reports. The institutional investor owned 520,035 shares of the bank’s stock after selling 90,374 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Regions Financial were worth $13,583,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after acquiring an additional 215,061 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. Invesco Ltd. grew its holdings in Regions Financial by 3.1% in the fourth quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after purchasing an additional 573,659 shares during the last quarter. Morgan Stanley increased its position in shares of Regions Financial by 1.3% during the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock worth $497,459,000 after purchasing an additional 231,924 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Regions Financial during the fourth quarter worth $254,564,000. Institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RF. Brean Capital initiated coverage on Regions Financial in a research report on Thursday, March 12th. They issued a “neutral” rating for the company. Truist Financial reaffirmed a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Royal Bank Of Canada increased their price target on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Piper Sandler lowered their price target on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 30th. Finally, DA Davidson raised their price target on Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.80.

Regions Financial Trading Down 1.7%

NYSE RF opened at $30.29 on Friday. The company has a fifty day simple moving average of $28.33 and a two-hundred day simple moving average of $27.99. The stock has a market cap of $25.84 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.17 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. On average, analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.5%. Regions Financial’s payout ratio is currently 44.17%.

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.