Avantax Advisory Services Inc. Has $1.54 Million Stake in Regions Financial Co. (NYSE:RF)

Avantax Advisory Services Inc. raised its stake in shares of Regions Financial Co. (NYSE:RF) by 10.0% in the 4th quarter, Holdings Channel reports. The firm owned 65,469 shares of the bank’s stock after purchasing an additional 5,932 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Regions Financial were worth $1,540,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RF. State Street Corp raised its position in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. National Bank of Canada FI raised its position in Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Raymond James Financial Inc. bought a new position in Regions Financial during the 4th quarter worth $31,480,000. Finally, Allianz Asset Management GmbH raised its position in Regions Financial by 247.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock worth $40,891,000 after purchasing an additional 1,237,538 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This represents 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. In the last quarter, insiders purchased 4,523 shares of company stock worth $102,269. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup lowered their price objective on Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Barclays lifted 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 lifted their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group lifted their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.56.

Regions Financial Price Performance

RF stock opened at $21.48 on Wednesday. The company has a market capitalization of $19.44 billion, a P/E ratio of 11.07, a price-to-earnings-growth 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. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The business has a 50-day simple moving average of $23.57 and a two-hundred day simple moving average of $23.99.

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

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.66%. Regions Financial’s dividend payout ratio (DPR) is currently 51.55%.

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.