SG Americas Securities LLC Increases Stake in Regions Financial Corporation $RF

SG Americas Securities LLC lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 1,026.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 770,869 shares of the bank’s stock after buying an additional 702,465 shares during the quarter. SG Americas Securities LLC’s holdings in Regions Financial were worth $20,891,000 at the end of the most recent quarter.

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

Insider Buying and Selling

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 transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RF has been the subject of a number of recent analyst reports. Brean Capital initiated coverage on shares of Regions Financial in a report on Thursday, March 12th. They set a “neutral” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 price target on shares of Regions Financial in a report on Tuesday, March 3rd. Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research report on Friday, January 16th. Truist Financial lowered their price objective on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, March 23rd. Finally, UBS Group reiterated a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a report on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.91.

Regions Financial Price Performance

Shares of NYSE RF opened at $25.13 on Friday. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $31.53. The stock has a market capitalization of $21.70 billion, a P/E ratio of 10.98, a P/E/G ratio of 0.92 and a beta of 1.02. The company’s 50-day moving average is $27.97 and its 200 day moving average is $26.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) 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 was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial declared that its board has initiated a stock repurchase program on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to buy up to 12.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.265 per share. 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 dividend payout ratio (DPR) is 46.29%.

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.