HighTower Advisors LLC Has $5.34 Million Holdings in Regions Financial Corporation $RF

HighTower Advisors LLC trimmed its holdings in Regions Financial Corporation (NYSE:RF) by 48.9% in the 3rd quarter, Holdings Channel reports. The fund owned 202,299 shares of the bank’s stock after selling 193,692 shares during the quarter. HighTower Advisors LLC’s holdings in Regions Financial were worth $5,335,000 as of its most recent filing with the Securities and Exchange Commission.

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

Regions Financial Price Performance

Regions Financial stock opened at $28.70 on Tuesday. The business has a 50 day simple moving average of $28.60 and a 200 day simple moving average of $26.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $25.17 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.06 and a beta of 1.04. Regions Financial Corporation has a one year low of $17.74 and a one year high of $31.53.

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

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

Regions Financial declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 12.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

RF has been the subject of a number of research reports. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Truist Financial boosted 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. Barclays raised their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price target on shares of Regions Financial in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $31.00 price target on shares of Regions Financial in a report on Monday, January 19th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.84.

Insider Activity

In other news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

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.