United Services Automobile Association Has $491,000 Stake in Regions Financial Co. (NYSE:RF)

United Services Automobile Association lowered its holdings in shares of Regions Financial Co. (NYSE:RF) by 20.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,884 shares of the bank’s stock after selling 5,378 shares during the period. United Services Automobile Association’s holdings in Regions Financial were worth $491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP boosted its position in shares of Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after acquiring an additional 394 shares in the last quarter. Ballentine Partners LLC lifted its stake in Regions Financial by 2.5% during the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock worth $411,000 after purchasing an additional 420 shares during the period. Prossimo Advisors LLC boosted its holdings in Regions Financial by 2.3% during the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock valued at $453,000 after purchasing an additional 430 shares in the last quarter. Greenleaf Trust grew its stake in shares of Regions Financial by 1.8% in the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock valued at $573,000 after purchasing an additional 436 shares during the period. Finally, Lake Street Advisors Group LLC raised its holdings in shares of Regions Financial by 2.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock worth $456,000 after buying an additional 436 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial lowered their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday. Citigroup dropped their target price on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday. Barclays boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Piper Sandler raised their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.28.

Regions Financial Price Performance

Regions Financial stock opened at $22.33 on Tuesday. The business’s 50-day simple moving average is $23.44 and its 200 day simple moving average is $23.95. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion for 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 for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. As a group, research analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Insider Activity

In related news, Director Joia M. Johnson purchased 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have purchased a total of 3,993 shares of company stock valued at $89,682 in the last 90 days. 0.29% of the stock is owned by company insiders.

Regions Financial 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.