Viawealth LLC Sells 1,385 Shares of Regions Financial Co. (NYSE:RF)

Viawealth LLC reduced its stake in shares of Regions Financial Co. (NYSE:RF) by 4.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,470 shares of the bank’s stock after selling 1,385 shares during the quarter. Viawealth LLC’s holdings in Regions Financial were worth $717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. iA Global Asset Management Inc. raised its position in shares of Regions Financial by 72.5% in the fourth quarter. iA Global Asset Management Inc. now owns 103,178 shares of the bank’s stock valued at $2,427,000 after purchasing an additional 43,375 shares during the period. Teacher Retirement System of Texas grew its stake in Regions Financial by 96.0% in the 4th quarter. Teacher Retirement System of Texas now owns 423,785 shares of the bank’s stock valued at $9,967,000 after buying an additional 207,595 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in Regions Financial by 7.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 354,631 shares of the bank’s stock worth $8,341,000 after acquiring an additional 23,323 shares during the period. Harvest Fund Management Co. Ltd lifted its position in Regions Financial by 415.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 15,767 shares of the bank’s stock worth $371,000 after acquiring an additional 12,710 shares during the last quarter. Finally, Brooklyn FI LLC bought a new stake in Regions Financial during the fourth quarter valued at about $337,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Up 1.3 %

RF opened at $21.77 on Thursday. The firm has a market cap of $19.71 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50-day simple moving average is $23.53 and its 200-day simple moving average is $23.97. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Equities research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio is currently 51.55%.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 4,523 shares of company stock worth $102,269. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the subject of several research analyst reports. Barclays boosted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Compass Point upped their price target on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Citigroup dropped their target price on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, Piper Sandler raised their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

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.