Pathstone Family Office LLC Increases Stock Holdings in Regions Financial Co. (NYSE:RF)

Posted by Defense World Staff on Mar 13th, 2023

Pathstone Family Office LLC lifted its stake in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 36.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,062 shares of the bank’s stock after buying an additional 12,046 shares during the quarter. Pathstone Family Office LLC’s holdings in Regions Financial were worth $909,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. LSV Asset Management increased its holdings in Regions Financial by 0.4% during the 3rd quarter. LSV Asset Management now owns 16,581,731 shares of the bank’s stock worth $332,795,000 after purchasing an additional 74,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Regions Financial by 3.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,271,811 shares of the bank’s stock worth $362,211,000 after purchasing an additional 536,935 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Regions Financial by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 13,578,909 shares of the bank’s stock worth $272,522,000 after purchasing an additional 248,401 shares during the last quarter. First Trust Advisors LP grew its position in shares of Regions Financial by 296.5% in the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock worth $234,902,000 after acquiring an additional 7,891,037 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Regions Financial by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,030,985 shares of the bank’s stock worth $161,182,000 after acquiring an additional 136,443 shares in the last quarter. 72.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Regions Financial

In other news, EVP C. Matthew Lusco sold 100,000 shares of the business’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total value of $2,283,000.00. Following the sale, the executive vice president now owns 77,843 shares of the company’s stock, valued at approximately $1,777,155.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP C. Matthew Lusco sold 100,000 shares of the business’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total transaction of $2,283,000.00. Following the sale, the executive vice president now directly owns 77,843 shares of the company’s stock, valued at $1,777,155.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William D. Ritter sold 13,000 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $23.42, for a total value of $304,460.00. Following the sale, the executive vice president now directly owns 24,344 shares in the company, valued at $570,136.48. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Regions Financial Trading Down 1.8 %

Shares of RF stock opened at $20.28 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.81 and a current ratio of 0.82. Regions Financial Co. has a 1 year low of $18.01 and a 1 year high of $24.33. The stock has a fifty day moving average of $22.87 and a two-hundred day moving average of $22.08. The firm has a market capitalization of $18.95 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22.

Regions Financial (NYSE:RF – Get Rating) last announced its quarterly earnings results on Friday, January 20th. The bank reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Regions Financial had a return on equity of 16.14% and a net margin of 29.81%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.94 billion. As a group, research analysts expect that Regions Financial Co. will post 2.57 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Friday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, March 9th. Regions Financial’s dividend payout ratio is presently 35.24%.

Wall Street Analyst Weigh In

RF has been the subject of several research reports. Wells Fargo & Company lowered Regions Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, November 21st. Raymond James lowered Regions Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, November 21st. UBS Group lowered Regions Financial from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research report on Tuesday, January 10th. Truist Financial lifted their target price on Regions Financial from $24.00 to $27.00 in a research report on Monday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Regions Financial from $25.00 to $24.00 in a research report on Friday, January 6th. Ten research analysts have rated the stock with 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 target price of $25.00.

Regions Financial Profile

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Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.