Regions Financial Co. (NYSE:RF) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 51.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 229,249 shares of the bank's stock after acquiring an additional 77,586 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Regions Financial were worth $5,392,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RF. Norges Bank purchased a new position in Regions Financial in the 4th quarter valued at $279,103,000. Invesco Ltd. lifted its stake in shares of Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after buying an additional 1,963,954 shares in the last quarter. Deutsche Bank AG boosted its position in Regions Financial by 52.7% during the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after acquiring an additional 1,907,121 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after acquiring an additional 1,396,647 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Regions Financial in the 4th quarter valued at about $31,480,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Down 0.9%

Shares of RF traded down $0.20 during midday trading on Wednesday, reaching $21.33. The stock had a trading volume of 6,232,974 shares, compared to its average volume of 8,121,684. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company's fifty day simple moving average is $20.66 and its two-hundred day simple moving average is $22.90. The company has a market cap of $19.17 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.93 and a beta of 0.97. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business earned $0.37 EPS. Equities research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 4.69%. Regions Financial's dividend payout ratio is currently 48.08%.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RF shares. Citigroup lowered their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Stephens reaffirmed an "overweight" rating and issued a $24.00 price objective on shares of Regions Financial in a research note on Tuesday. Keefe, Bruyette & Woods cut their price objective on Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Barclays lowered their target price on Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Finally, Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.80.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.