Ashton Thomas Private Wealth LLC Sells 698 Shares of Regions Financial Co. (NYSE:RF)

Ashton Thomas Private Wealth LLC cut its stake in Regions Financial Co. (NYSE:RF) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,181 shares of the bank’s stock after selling 698 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Regions Financial were worth $551,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RF. Janney Montgomery Scott LLC grew its stake in Regions Financial by 16.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 66,925 shares of the bank’s stock valued at $1,561,000 after buying an additional 9,407 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Regions Financial by 59.0% during the third quarter. Van ECK Associates Corp now owns 37,721 shares of the bank’s stock worth $891,000 after acquiring an additional 13,999 shares during the period. Principal Financial Group Inc. grew its position in shares of Regions Financial by 3.2% in the third quarter. Principal Financial Group Inc. now owns 1,087,697 shares of the bank’s stock valued at $25,376,000 after purchasing an additional 34,125 shares during the last quarter. Assetmark Inc. increased its stake in shares of Regions Financial by 6.8% during the third quarter. Assetmark Inc. now owns 18,637 shares of the bank’s stock worth $435,000 after purchasing an additional 1,184 shares during the period. Finally, Atria Investments Inc lifted its holdings in Regions Financial by 4.1% during the 3rd quarter. Atria Investments Inc now owns 19,100 shares of the bank’s stock worth $446,000 after purchasing an additional 754 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of research reports. Truist Financial increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Compass Point raised their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Citigroup boosted their price objective on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Barclays raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Finally, Piper Sandler boosted their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Stock Performance

Regions Financial stock opened at $21.56 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.52 billion, a PE ratio of 11.11, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The business’s 50-day moving average price is $23.86 and its two-hundred day moving average price is $24.06.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. As a group, analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

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.