Nalls Sherbakoff Group LLC Makes New Investment in Regions Financial Corporation $RF

Nalls Sherbakoff Group LLC purchased a new position in shares of Regions Financial Corporation (NYSE:RF) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 53,250 shares of the bank’s stock, valued at approximately $1,443,000. Regions Financial accounts for 1.0% of Nalls Sherbakoff Group LLC’s holdings, making the stock its 21st largest position.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Regions Financial by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after acquiring an additional 215,061 shares during the period. Victory Capital Management Inc. grew its position in Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after acquiring an additional 9,312,449 shares in the last quarter. Invesco Ltd. increased its stake in Regions Financial by 3.1% during the fourth quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after purchasing an additional 573,659 shares during the period. Morgan Stanley increased its stake in Regions Financial by 1.3% during the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock worth $497,459,000 after purchasing an additional 231,924 shares during the period. Finally, Norges Bank acquired a new stake in shares of Regions Financial during the fourth quarter worth about $254,564,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RF shares. Morgan Stanley lowered their price objective on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Stephens assumed coverage on shares of Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price on the stock. Royal Bank Of Canada increased their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Brean Capital began coverage on shares of Regions Financial in a research report on Thursday, March 12th. They issued a “neutral” rating for the company. Finally, Piper Sandler dropped their price target on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.73.

Regions Financial Price Performance

Regions Financial stock opened at $28.63 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $27.99 and a 200-day simple moving average of $27.76. The stock has a market cap of $24.43 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.09 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $21.99 and a 12-month high of $31.53.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.Regions Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities analysts expect that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.265 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.7%. Regions Financial’s dividend payout ratio is presently 44.17%.

Insider Buying and Selling at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.