Cresset Asset Management LLC Makes New Investment in Regions Financial Corporation $RF

Cresset Asset Management LLC acquired a new stake in Regions Financial Corporation (NYSE:RF) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 25,077 shares of the bank’s stock, valued at approximately $668,000.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Regions Financial by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock worth $740,511,000 after buying an additional 391,568 shares during the period. Geode Capital Management LLC raised its holdings in Regions Financial by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock valued at $557,370,000 after acquiring an additional 109,549 shares during the period. Victory Capital Management Inc. lifted its position in Regions Financial by 52.9% during the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock worth $357,417,000 after acquiring an additional 4,679,285 shares during the last quarter. Norges Bank acquired a new stake in Regions Financial during the second quarter worth approximately $246,790,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Regions Financial by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after acquiring an additional 233,458 shares during the period. 79.39% of the stock is owned by institutional investors.

Insider Activity

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Regions Financial Trading Down 2.1%

Shares of RF opened at $26.20 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $31.53. The firm has a market cap of $22.62 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 0.95 and a beta of 1.02. The business’s fifty day moving average is $28.64 and its 200-day moving average is $26.90.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. Equities analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial announced that its board has authorized a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to buy up to 12.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a dividend yield of 4.0%. Regions Financial’s dividend payout ratio is presently 46.29%.

Analysts Set New Price Targets

RF has been the topic of several research reports. Evercore downgraded Regions Financial from an “in-line” rating to an “underperform” rating and upped their target price for the company from $27.00 to $29.00 in a research report on Tuesday, January 6th. UBS Group restated a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. JPMorgan Chase & Co. increased their price objective on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $31.00 target price on shares of Regions Financial in a report on Tuesday, January 20th. Finally, Piper Sandler boosted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $29.97.

Regions Financial Company 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.