Wealthfront Advisers LLC Trims Stock Position in Regions Financial Co. (NYSE:RF)

Wealthfront Advisers LLC lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 86.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 41,148 shares of the bank’s stock after selling 269,943 shares during the quarter. Wealthfront Advisers LLC’s holdings in Regions Financial were worth $968,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RF. Quarry LP raised its position in Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the last quarter. Ballentine Partners LLC raised its position in Regions Financial by 2.5% in the 4th quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after purchasing an additional 420 shares during the last quarter. Prossimo Advisors LLC raised its position in Regions Financial by 2.3% in the 4th quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock valued at $453,000 after purchasing an additional 430 shares during the last quarter. Greenleaf Trust raised its position in Regions Financial by 1.8% in the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock valued at $573,000 after purchasing an additional 436 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in Regions Financial by 2.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after purchasing an additional 436 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 4,523 shares of company stock valued at $102,269 in the last ninety days. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley restated an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Citigroup cut their price objective on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Compass Point upped 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Regions Financial Price Performance

Shares of NYSE RF opened at $21.45 on Friday. The stock has a market cap of $19.42 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The company’s 50-day moving average price is $23.67 and its 200 day moving average price is $24.00. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. As a group, research analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.66%. Regions Financial’s dividend payout ratio is currently 51.55%.

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.