Glassman Wealth Services Grows Position in Regions Financial Co. (NYSE:RF)

Glassman Wealth Services grew its holdings in Regions Financial Co. (NYSE:RF) by 163.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,559 shares of the bank’s stock after buying an additional 967 shares during the quarter. Glassman Wealth Services’ holdings in Regions Financial were worth $30,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RF. Vanguard Group Inc. lifted its position in Regions Financial by 2.7% during the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock valued at $1,970,871,000 after buying an additional 2,982,310 shares during the period. Wellington Management Group LLP lifted its position in Regions Financial by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after acquiring an additional 4,160,768 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Regions Financial by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after purchasing an additional 618,384 shares during the period. Invesco Ltd. boosted its position in shares of Regions Financial by 15.1% in the 3rd quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock worth $190,682,000 after purchasing an additional 1,455,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Regions Financial in the 4th quarter worth approximately $210,379,000. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RF shares. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $22.00 in a research note on Tuesday, January 9th. Evercore ISI lifted their price target on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Finally, Argus cut shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.34.

Insiders Place Their Bets

In other news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the purchase, the director now owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.07 during trading hours on Thursday, reaching $19.64. 4,867,298 shares of the stock traded hands, compared to its average volume of 8,639,186. The company has a 50 day moving average price of $19.50 and a 200 day moving average price of $18.17. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $18.05 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 1.41 and a beta of 1.21.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts expect that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio is presently 52.17%.

About Regions Financial

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.