APG Asset Management N.V. Sells 1,371,722 Shares of Regions Financial Co. (NYSE:RF)

APG Asset Management N.V. decreased its holdings in shares of Regions Financial Co. (NYSE:RF) by 73.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 501,100 shares of the bank’s stock after selling 1,371,722 shares during the quarter. APG Asset Management N.V.’s holdings in Regions Financial were worth $11,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Y.D. More Investments Ltd lifted its holdings in Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Regions Financial during the fourth quarter valued at about $28,000. Picton Mahoney Asset Management lifted its holdings in shares of Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after buying an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Regions Financial during the fourth quarter valued at approximately $32,000. Finally, Quarry LP grew its stake in Regions Financial by 29.5% during the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after acquiring an additional 394 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased 3,868 shares of company stock worth $86,722 over the last three months. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RF. JPMorgan Chase & Co. cut their price target on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Citigroup lowered their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Barclays upped their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Truist Financial dropped their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Finally, Wells Fargo & Company reduced their price target on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.42.

Regions Financial Price Performance

Shares of RF stock opened at $18.89 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $17.10 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.93 and a beta of 1.01. The business’s 50 day moving average price is $22.21 and its 200-day moving average price is $23.71. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $0.39 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Monday, March 3rd. Regions Financial’s payout ratio is currently 51.55%.

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.