Barclays PLC Sells 1,238,346 Shares of Regions Financial Co. (NYSE:RF)

Barclays PLC reduced its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 31.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,638,291 shares of the bank's stock after selling 1,238,346 shares during the period. Barclays PLC owned approximately 0.29% of Regions Financial worth $62,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RF. Y.D. More Investments Ltd boosted its stake in shares of Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock valued at $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC bought a new stake in Regions Financial in the fourth quarter worth $28,000. Picton Mahoney Asset Management boosted its position in Regions Financial by 2,354.9% during 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 period. Millstone Evans Group LLC bought a new position in shares of Regions Financial during the fourth quarter valued at about $32,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of Regions Financial in the fourth quarter worth about $44,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The stock was purchased 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 of the company's stock, valued at $370,353.48. The trade was a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 3,343 shares of company stock worth $74,348 over the last 90 days. 0.29% of the stock is currently owned by insiders.

Regions Financial Stock Up 0.5 %

Shares of RF stock traded up $0.09 during trading hours on Friday, hitting $19.26. 18,651,917 shares of the company's stock traded hands, compared to its average volume of 8,135,804. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock's fifty day simple moving average is $21.59 and its two-hundred day simple moving average is $23.56. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Citigroup cut their target price 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. JPMorgan Chase & Co. lowered 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. Wells Fargo & Company cut 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 report on Friday, March 28th. Finally, Truist Financial lowered 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 note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Regions Financial has an average rating of "Moderate Buy" and an average target price of $26.42.

Regions Financial 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.