Arrowstreet Capital Limited Partnership trimmed its stake in Regions Financial Co. (NYSE:RF - Free Report) by 88.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 867,774 shares of the bank's stock after selling 6,570,214 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.10% of Regions Financial worth $20,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Regions Financial in the 4th quarter valued at about $279,103,000. State Street Corp boosted its position in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank's stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank's stock valued at $39,784,000 after acquiring an additional 1,452,956 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 worth $686,398,000 after acquiring an additional 1,396,647 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Regions Financial during the 4th quarter worth $31,480,000. 79.39% of the stock is currently owned by institutional investors.
Insider Activity at Regions Financial
In related news, Director Joia M. Johnson purchased 2,300 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares of the company's stock, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 3,868 shares of company stock worth $86,722 in the last 90 days. Corporate insiders own 0.29% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Compass Point increased their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. 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 reduced their price target on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Truist Financial decreased their price objective on Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a report on Friday, March 21st. Finally, Barclays upped their target price on Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of "Moderate Buy" and an average target price of $26.42.
View Our Latest Stock Analysis on Regions Financial
Regions Financial Stock Performance
Regions Financial stock traded down $0.47 during mid-day trading on Tuesday, hitting $18.22. The company had a trading volume of 13,294,097 shares, compared to its average volume of 7,989,444. The company has a market capitalization of $16.49 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 1.93 and a beta of 1.01. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The company's fifty day moving average is $22.50 and its 200-day moving average is $23.78. 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 (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) 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 firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.
Regions Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial's dividend payout ratio (DPR) is presently 51.55%.
About Regions Financial
(
Free Report)
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.
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