Regions Financial Co. (NYSE:RF) Shares Sold by LSV Asset Management

LSV Asset Management lowered its holdings in Regions Financial Co. (NYSE:RF) by 6.0% during the fourth quarter, Holdings Channel reports. The fund owned 10,023,310 shares of the bank’s stock after selling 640,400 shares during the quarter. LSV Asset Management’s holdings in Regions Financial were worth $235,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Y.D. More Investments Ltd boosted its holdings in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial in the fourth quarter valued at about $28,000. Picton Mahoney Asset Management raised its position 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 valued at $29,000 after buying an additional 1,201 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in Regions Financial during the fourth quarter worth about $32,000. Finally, Quarry LP increased its position in Regions Financial by 29.5% during the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after purchasing an additional 394 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have purchased 3,868 shares of company stock worth $86,722. 0.29% of the stock is owned by insiders.

Regions Financial Stock Up 9.1 %

Shares of NYSE:RF opened at $20.01 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The company has a 50 day moving average of $22.31 and a two-hundred day moving average of $23.74. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 5.00%. The ex-dividend date was Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Regions Financial Company 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.