Groupama Asset Managment Sells 84,625 Shares of Regions Financial Corporation $RF

Groupama Asset Managment decreased its position in Regions Financial Corporation (NYSE:RF) by 63.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,391 shares of the bank’s stock after selling 84,625 shares during the period. Groupama Asset Managment’s holdings in Regions Financial were worth $1,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RF. GAM Holding AG bought a new position in Regions Financial during the third quarter worth about $1,760,000. Allspring Global Investments Holdings LLC raised its position in shares of Regions Financial by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of Regions Financial by 6.8% in the third quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock valued at $18,204,000 after purchasing an additional 44,252 shares during the period. iA Global Asset Management Inc. purchased a new stake in shares of Regions Financial during the 3rd quarter valued at approximately $1,378,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Regions Financial by 111.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after buying an additional 152,987 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Up 0.3%

Shares of NYSE:RF opened at $25.30 on Friday. The stock’s 50-day moving average price is $28.23 and its 200-day moving average price is $26.81. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $31.53. The stock has a market capitalization of $21.84 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

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

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

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s payout ratio is 46.29%.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RF. UBS Group reiterated a “neutral” rating and issued a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. Brean Capital began coverage on Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating on the stock. Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a report on Friday, January 16th. Truist Financial lifted their price target on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.97.

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.