McElhenny Sheffield Capital Management LLC Takes $43,000 Position in Regions Financial Co. (NYSE:RF)

Posted by Defense World Staff on Mar 20th, 2023

McElhenny Sheffield Capital Management LLC acquired a new position in shares of Regions Financial Co. (NYSE:RF – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,000 shares of the bank’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in shares of Regions Financial by 296.5% during the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock valued at $234,902,000 after acquiring an additional 7,891,037 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Regions Financial by 141.4% in the third quarter. Neuberger Berman Group LLC now owns 6,820,663 shares of the bank’s stock valued at $136,889,000 after purchasing an additional 3,995,271 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in Regions Financial in the 3rd quarter worth about $50,869,000. 140 Summer Partners LP purchased a new stake in shares of Regions Financial during the 3rd quarter worth about $46,040,000. Finally, Bahl & Gaynor Inc. acquired a new stake in shares of Regions Financial during the 3rd quarter valued at about $38,032,000. Hedge funds and other institutional investors own 72.87% of the company’s stock.

Regions Financial Trading Down 3.9 %

Shares of RF stock opened at $17.89 on Monday. The firm has a market capitalization of $16.72 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 0.69 and a beta of 1.22. Regions Financial Co. has a 1 year low of $13.94 and a 1 year high of $24.33. The firm’s fifty day simple moving average is $22.53 and its 200 day simple moving average is $21.95. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.16.

Regions Financial (NYSE:RF – Get Rating) last posted its quarterly earnings data on Friday, January 20th. The bank reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Regions Financial had a net margin of 29.81% and a return on equity of 16.14%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.94 billion. As a group, sell-side analysts predict 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, March 9th. Regions Financial’s payout ratio is presently 35.24%.

Insider Activity

In related news, EVP C. Matthew Lusco sold 100,000 shares of the firm’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 completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. In other Regions Financial news, EVP William D. Ritter sold 13,000 shares of Regions Financial stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $23.42, for a total transaction of $304,460.00. Following the sale, the executive vice president now directly owns 24,344 shares of the company’s stock, valued at $570,136.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP C. Matthew Lusco sold 100,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 77,843 shares of the company’s stock, valued at approximately $1,777,155.69. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on RF. UBS Group downgraded Regions Financial from a “buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a report on Tuesday, January 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Regions Financial from $25.00 to $24.00 in a report on Friday, January 6th. Barclays upped their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 3rd. DA Davidson assumed coverage on Regions Financial in a report on Tuesday, December 20th. They set a “buy” rating and a $25.00 target price on the stock. Finally, Raymond James downgraded Regions Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.00.

About Regions Financial

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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.