Regions Financial Co. (NYSE:RF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,957,241 shares of the bank's stock after selling 269,658 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of Regions Financial worth $140,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP lifted its holdings in shares of Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank's stock worth $40,000 after acquiring an additional 394 shares during the last quarter. Ballentine Partners LLC lifted its stake in Regions Financial by 2.5% during the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank's stock worth $411,000 after purchasing an additional 420 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Regions Financial by 1.8% during the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank's stock worth $581,000 after buying an additional 429 shares during the period. Prossimo Advisors LLC boosted its stake in shares of Regions Financial by 2.3% in the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank's stock valued at $453,000 after purchasing an additional 430 shares during the period. Finally, Greenleaf Trust grew its holdings in shares of Regions Financial by 1.8% in the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank's stock valued at $573,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Analysts Set New Price Targets

RF has been the subject of several research reports. Truist Financial boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a "hold" rating in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their price target on shares of Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. Compass Point increased their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Finally, Barclays raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $27.67.

Regions Financial Trading Up 0.7 %

Regions Financial stock traded up $0.17 during midday trading on Monday, reaching $23.63. The stock had a trading volume of 517,642 shares, compared to its average volume of 7,782,409. The stock has a market capitalization of $21.40 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. 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 stock's 50-day simple moving average is $24.06 and its 200 day simple moving average is $24.04. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share 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 during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business earned $0.39 EPS. The business's revenue was up .2% on a year-over-year basis. Analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial's payout ratio is 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.