Regions Financial Co. (NYSE:RF) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in Regions Financial Co. (NYSE:RF - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,651,058 shares of the bank's stock after selling 114,617 shares during the quarter. American Century Companies Inc. owned 0.29% of Regions Financial worth $62,353,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank's stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after purchasing an additional 1,396,647 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank's stock worth $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Regions Financial by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank's stock worth $203,273,000 after purchasing an additional 112,885 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Regions Financial by 8.4% during the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank's stock worth $72,548,000 after acquiring an additional 241,838 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director Joia M. Johnson acquired 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased 3,993 shares of company stock worth $89,682 over the last three months. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on RF shares. Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their price objective 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. Truist Financial cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Piper Sandler lifted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley reissued an "equal weight" rating and set a $32.00 price target (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.17.

Regions Financial Price Performance

Shares of RF stock traded down $0.52 during mid-day trading on Friday, reaching $21.42. The stock had a trading volume of 5,096,899 shares, compared to its average volume of 7,797,532. The company has a market cap of $19.39 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The business has a 50-day simple moving average of $23.25 and a 200 day simple moving average of $23.93.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $0.39 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. Regions Financial's dividend payout ratio (DPR) 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.