Pictet Asset Management Holding SA Sells 90,374 Shares of Regions Financial Corporation $RF

Key Points

• Pictet Asset Management cut its stake in Regions Financial by 14.8% in the first quarter, selling 90,374 shares and leaving it with 520,035 shares valued at about $13.6 million.
• Regions Financial reported Q1 earnings of $0.62 per share, slightly topping estimates, while revenue rose 5% year over year to $1.87 billion.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $30.80, and the shares recently traded near $30.29 with a 3.5% dividend yield.

Pictet Asset Management Holding SA lowered its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 14.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 520,035 shares of the bank's stock after selling 90,374 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Regions Financial worth $13,583,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of RF. Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank's stock worth $862,792,000 after purchasing an additional 215,061 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock worth $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. Invesco Ltd. increased its stake in Regions Financial by 3.1% in the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank's stock worth $524,337,000 after buying an additional 573,659 shares during the period. Morgan Stanley increased its stake in Regions Financial by 1.3% in the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank's stock worth $497,459,000 after buying an additional 231,924 shares during the period. Finally, Norges Bank bought a new stake in Regions Financial during the 4th quarter valued at about $254,564,000. Institutional investors own 79.39% of the company's stock.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RF shares. Royal Bank Of Canada upped their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Truist Financial reaffirmed a "hold" rating and set a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. DA Davidson boosted their price target on Regions Financial from $31.00 to $32.00 and gave the company a "buy" rating in a report on Monday, April 20th. Brean Capital started coverage on Regions Financial in a research note on Thursday, March 12th. They issued a "neutral" rating on the stock. Finally, Piper Sandler reduced their price objective on Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, March 30th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of "Hold" and an average price target of $30.80.

Regions Financial Stock Down 1.7%

Shares of Regions Financial stock opened at $30.29 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $25.84 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.17 and a beta of 1.00. The firm's 50-day moving average is $28.33 and its two-hundred day moving average is $27.99. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $31.53.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts expect that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.265 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.5%. Regions Financial's payout ratio is 44.17%.

Regions Financial Company 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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