Wealthfront Advisers LLC Lowers Stock Holdings in Regions Financial Co. (NYSE:RF)

Wealthfront Advisers LLC trimmed its stake in Regions Financial Co. (NYSE:RF) by 86.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,148 shares of the bank’s stock after selling 269,943 shares during the period. Wealthfront Advisers LLC’s holdings in Regions Financial were worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in RF. State Street Corp lifted its position in shares of Regions Financial by 16.3% in 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 period. Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 5.0% in 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 period. Geode Capital Management LLC lifted its position in shares of Regions Financial by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after purchasing an additional 315,605 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Regions Financial by 1.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock worth $203,273,000 after purchasing an additional 112,885 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Regions Financial by 0.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after purchasing an additional 61,426 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RF shares. Barclays upped their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Citigroup reduced their price objective on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday. Compass Point boosted their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Regions Financial Trading Up 2.9 %

NYSE RF opened at $21.45 on Friday. The firm has a 50 day simple moving average of $23.67 and a 200-day simple moving average of $24.00. 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 one year low of $17.72 and a one year high of $27.96. The firm has a market cap of $19.42 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.93 and a beta of 1.19.

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

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date 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 is currently 51.55%.

Insider Buying and Selling

In other news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought 4,523 shares of company stock worth $102,269 over the last 90 days. 0.29% of the stock is owned by insiders.

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.