Greystone Financial Group LLC Has $10.43 Million Position in Regions Financial Corporation $RF

Key Points

• Greystone Financial Group increased its stake in Regions Financial by 20.3% in Q4 to 384,767 shares, worth about $10.43 million, making it the firm's 27th largest holding.
• EVP William D. Ritter sold 36,000 shares on January 22 for roughly $1.04 million, cutting his personal stake by 67.2%; corporate insiders now own about 0.34% of the stock.
• Regions reported $0.62 EPS (beating the $0.61 estimate) with revenue of $1.87B (slightly below expectations), declared a quarterly dividend of $0.265 (annualized $1.06, ~3.7% yield), and holds a consensus analyst rating of "Hold" with a $30 target.

Greystone Financial Group LLC lifted its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 20.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 384,767 shares of the bank's stock after purchasing an additional 65,020 shares during the period. Regions Financial accounts for about 1.6% of Greystone Financial Group LLC's portfolio, making the stock its 27th largest position. Greystone Financial Group LLC's holdings in Regions Financial were worth $10,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RF. GAM Holding AG bought a new position in shares of Regions Financial in the third quarter worth about $1,760,000. Allspring Global Investments Holdings LLC grew its stake in shares of Regions Financial by 2.6% during 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 last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Regions Financial by 6.8% during 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 last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Regions Financial in the third quarter valued at approximately $1,378,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of 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 in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP William D. Ritter sold 36,000 shares of the company's stock in a transaction 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 directly owned 17,569 shares of the company's stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RF shares. DA Davidson upped their price objective on Regions Financial from $31.00 to $32.00 and gave the stock a "buy" rating in a report on Monday. Barclays lifted their target price on Regions Financial from $27.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, January 5th. Brean Capital started coverage on Regions Financial in a research report on Thursday, March 12th. They set a "neutral" rating for the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $32.00 price target on shares of Regions Financial in a research note on Tuesday, January 6th. Finally, UBS Group reiterated a "neutral" rating and issued a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of "Hold" and a consensus target price of $30.00.

Regions Financial Stock Up 0.6%

NYSE:RF opened at $28.29 on Tuesday. Regions Financial Corporation has a 1 year low of $18.83 and a 1 year high of $31.53. The stock has a 50-day moving average price of $27.42 and a two-hundred day moving average price of $26.80. The stock has a market cap of $24.42 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.19 and a beta of 1.03. 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 - Get Free Report) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the previous year, the business posted $0.54 EPS. Regions Financial's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts expect that Regions Financial Corporation will post 2.59 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial's dividend payout ratio (DPR) is presently 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.

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