Fifth Third Wealth Advisors LLC Boosts Stock Position in Regions Financial Corporation $RF

Fifth Third Wealth Advisors LLC raised its holdings in Regions Financial Corporation (NYSE:RF) by 490.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,248 shares of the bank’s stock after purchasing an additional 49,211 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Regions Financial were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Regions Financial by 85.9% during the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock worth $121,976,000 after purchasing an additional 2,137,062 shares during the last quarter. Swiss Life Asset Management Ltd lifted its stake in Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock valued at $61,135,000 after purchasing an additional 1,600,926 shares during the last quarter. Schroder Investment Management Group grew its holdings in Regions Financial by 11.2% during the third quarter. Schroder Investment Management Group now owns 1,732,045 shares of the bank’s stock valued at $45,899,000 after purchasing an additional 173,871 shares during the period. Barclays PLC grew its holdings in Regions Financial by 12.4% during the third quarter. Barclays PLC now owns 6,254,555 shares of the bank’s stock valued at $164,933,000 after purchasing an additional 689,313 shares during the period. Finally, Interval Partners LP increased its position in Regions Financial by 30.5% in the third quarter. Interval Partners LP now owns 786,307 shares of the bank’s stock worth $20,735,000 after buying an additional 183,694 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RF. Cantor Fitzgerald restated an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. cut their price target on Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Morgan Stanley decreased their price objective on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Piper Sandler lowered their price objective on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, March 30th. Finally, DA Davidson upped their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.73.

Regions Financial Stock Up 1.5%

Regions Financial stock opened at $29.93 on Friday. The firm has a 50 day simple moving average of $28.11 and a 200 day simple moving average of $27.87. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $31.53. The firm has a market capitalization of $25.54 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 1.12 and a beta of 1.00.

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

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, June 1st. Regions Financial’s payout ratio is presently 44.17%.

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.