Regions Financial Corporation $RF Shares Sold by Lazard Asset Management LLC

by · The Cerbat Gem

Lazard Asset Management LLC trimmed its stake in shares of Regions Financial Corporation (NYSE:RFFree Report) by 32.0% during the first quarter, Holdings Channel reports. The firm owned 191,370 shares of the bank’s stock after selling 89,954 shares during the period. Lazard Asset Management LLC’s holdings in Regions Financial were worth $4,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of RF. Charles Schwab Investment Management Inc. increased its position in Regions Financial by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after acquiring an additional 215,061 shares during the period. Victory Capital Management Inc. raised its stake in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares in the last quarter. Invesco Ltd. raised its stake in shares of Regions Financial by 3.1% in the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after buying an additional 573,659 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Regions Financial by 1.3% in the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock valued at $497,459,000 after buying an additional 231,924 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after buying an additional 5,754,487 shares during the period. Institutional investors own 79.39% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RF shares. DA Davidson lifted their target price on Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Truist Financial upped their price target on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Stephens assumed coverage on shares of Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective for the company. Cantor Fitzgerald raised their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.24.

Check Out Our Latest Research Report on Regions Financial

Regions Financial Trading Up 0.5%

Regions Financial stock opened at $31.01 on Friday. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $26.46 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.18 and a beta of 1.00. The company has a 50 day moving average price of $29.71 and a 200 day moving average price of $28.45.

Regions Financial (NYSE:RFGet Free Report) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Research analysts forecast that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio is presently 43.27%.

Regions Financial Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RFFree Report).