TCW Group Inc. Purchases Shares of 14,691 Regions Financial Co. (NYSE:RF)

TCW Group Inc. acquired a new stake in Regions Financial Co. (NYSE:RF) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 14,691 shares of the bank’s stock, valued at approximately $287,000.

Several other large investors also recently modified their holdings of the stock. Sound Income Strategies LLC boosted its stake in Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares during the period. HM Payson & Co. boosted its stake in shares of Regions Financial by 2,000.0% in the third quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after buying an additional 2,000 shares during the period. West Paces Advisors Inc. grew its position in Regions Financial by 277.2% during the third quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock worth $41,000 after buying an additional 1,752 shares in the last quarter. Baker Avenue Asset Management LP increased its stake in Regions Financial by 69.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after acquiring an additional 1,000 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Regions Financial by 113.0% in the 4th quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,322 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Truist Financial reduced their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Morgan Stanley dropped their price target on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Keefe, Bruyette & Woods upped their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Piper Sandler boosted their price target on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Evercore ISI raised their price objective on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus target price of $20.34.

Regions Financial Trading Up 1.1 %

NYSE RF opened at $19.12 on Monday. The stock has a market capitalization of $17.51 billion, a P/E ratio of 10.39, a P/E/G ratio of 2.09 and a beta of 1.21. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The business has a 50 day simple moving average of $19.77 and a 200 day simple moving average of $18.75.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. Research analysts expect that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 5.02%. Regions Financial’s payout ratio is currently 52.17%.

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Regions Financial news, Director William C. Rhodes III acquired 50,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the purchase, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Regions Financial Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.