Vanguard Group Inc. Trims Stock Holdings in Regions Financial Corporation $RF

Key Points

• Vanguard trimmed its stake in Regions Financial by 1.0% in Q4, selling 1,057,964 shares and leaving it with 106,098,856 shares (about 12.10% of the company) valued at roughly $2.875 billion.
• Regions beat EPS expectations with $0.62 per share but missed revenue estimates—$1.87 billion vs. $1.92 billion—with revenue up 5% year-over-year; the company also announced a quarterly dividend of $0.265 (annualized $1.06, ~3.7% yield; ex-dividend June 1).
• Analyst coverage is mixed—seven Buys, nine Holds and three Sells—giving Regions a consensus rating of "Hold" and an average price target of $30.12.

Vanguard Group Inc. decreased its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,098,856 shares of the bank's stock after selling 1,057,964 shares during the period. Vanguard Group Inc. owned 12.10% of Regions Financial worth $2,875,279,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RF. Resonant Capital Advisors LLC boosted its position in shares of Regions Financial by 3.3% in the fourth quarter. Resonant Capital Advisors LLC now owns 25,151 shares of the bank's stock valued at $688,000 after acquiring an additional 796 shares during the period. Wealth Alliance Advisory Group LLC boosted its position in shares of Regions Financial by 6.8% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 15,636 shares of the bank's stock valued at $424,000 after acquiring an additional 1,000 shares during the period. Concurrent Investment Advisors LLC boosted its position in shares of Regions Financial by 15.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 139,028 shares of the bank's stock valued at $3,768,000 after acquiring an additional 18,159 shares during the period. Diversified Enterprises LLC bought a new position in shares of Regions Financial in the fourth quarter valued at approximately $231,000. Finally, Quent Long Short Global Small Cap Fund LP bought a new position in shares of Regions Financial in the fourth quarter valued at approximately $239,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Tuesday, January 20th. Barclays raised their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the company an "underweight" rating in a research report on Monday, January 5th. Piper Sandler cut their price objective on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, March 30th. DA Davidson raised their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Finally, Brean Capital initiated coverage on shares of Regions Financial in a research report on Thursday, March 12th. They issued a "neutral" rating for the company. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Regions Financial has an average rating of "Hold" and a consensus price target of $30.12.

Regions Financial Trading Up 0.3%

Shares of Regions Financial stock opened at $28.34 on Wednesday. Regions Financial Corporation has a 1 year low of $19.93 and a 1 year high of $31.53. The firm has a market cap of $24.47 billion, a PE ratio of 11.81, a PEG ratio of 1.10 and a beta of 1.03. 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 company has a 50 day simple moving average of $27.20 and a two-hundred day simple moving average of $26.92.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (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 period in the previous year, the business posted $0.54 earnings per share. Regions Financial's revenue for the quarter was up 5.0% on a year-over-year basis. Analysts expect that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.265 per share. The ex-dividend date is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.7%. Regions Financial's payout ratio is presently 44.17%.

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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