Regions Financial Corporation $RF Shares Bought by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC increased its stake in Regions Financial by 29% in the fourth quarter, adding 54,567 shares and bringing its total holding to 242,692 shares worth about $6.6 million.
• Regions Financial reported better-than-expected quarterly earnings of $0.62 per share, though revenue came in slightly below analyst estimates. The bank also posted year-over-year revenue growth of 5%.
• The company declared a quarterly dividend of $0.265 per share, implying a 3.8% annualized yield, while analysts currently have a consensus Hold rating and an average price target of $30.47.

ProShare Advisors LLC grew its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 29.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 242,692 shares of the bank's stock after buying an additional 54,567 shares during the period. ProShare Advisors LLC's holdings in Regions Financial were worth $6,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. HighTower Advisors LLC raised its holdings in shares of Regions Financial by 7.1% in the fourth quarter. HighTower Advisors LLC now owns 216,701 shares of the bank's stock valued at $5,873,000 after buying an additional 14,402 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Regions Financial by 3.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 676,863 shares of the bank's stock valued at $18,343,000 after buying an additional 22,710 shares during the last quarter. Sapient Capital LLC raised its holdings in shares of Regions Financial by 2.8% in the fourth quarter. Sapient Capital LLC now owns 29,224 shares of the bank's stock valued at $806,000 after buying an additional 797 shares during the last quarter. Chase Investment Counsel Corp raised its holdings in shares of Regions Financial by 7.4% in the fourth quarter. Chase Investment Counsel Corp now owns 13,753 shares of the bank's stock valued at $372,000 after buying an additional 952 shares during the last quarter. Finally, North Dakota State Investment Board purchased a new stake in shares of Regions Financial in the fourth quarter valued at about $835,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Regions Financial Stock Performance

NYSE RF opened at $27.87 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $26.95 and its two-hundred day moving average is $27.26. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.08 and a beta of 1.02. Regions Financial Corporation has a 12-month low of $20.79 and a 12-month 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. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. Research analysts expect that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial's dividend payout ratio (DPR) is currently 44.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RF shares. DA Davidson upped their target price on shares of 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 shares of Regions Financial in a report on Thursday, March 12th. They issued a "neutral" rating for the company. Truist Financial reaffirmed a "hold" rating and issued a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Piper Sandler reduced their target price on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Seven equities research 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, the company has an average rating of "Hold" and an average price target of $30.47.

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.

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