Ballentine Partners LLC Acquires Shares of 12,706 Regions Financial Co. (NYSE:RF)

Ballentine Partners LLC bought a new stake in Regions Financial Co. (NYSE:RF) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,706 shares of the bank’s stock, valued at approximately $267,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP boosted its stake in Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after acquiring an additional 1,951,026 shares during the last quarter. Norges Bank acquired a new position in Regions Financial during the 4th quarter worth $210,379,000. Ameriprise Financial Inc. increased its position in shares of Regions Financial by 0.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,541,154 shares of the bank’s stock worth $95,371,000 after purchasing an additional 44,882 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Regions Financial by 4.7% in the 3rd quarter. Deutsche Bank AG now owns 4,059,601 shares of the bank’s stock valued at $69,825,000 after purchasing an additional 180,446 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares in the company, valued at $968,500. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RF has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Evercore ISI dropped their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday. Truist Financial decreased their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $23.00 in a report on Monday, March 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.28.

Regions Financial Stock Down 1.5 %

Shares of NYSE:RF opened at $19.02 on Wednesday. The firm has a 50 day simple moving average of $19.26 and a 200 day simple moving average of $19.14. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $17.42 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. As a group, research analysts expect that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

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.