Corebridge Financial Inc. Sells 11,971 Shares of Regions Financial Co. (NYSE:RF)

Corebridge Financial Inc. lowered its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,272 shares of the bank's stock after selling 11,971 shares during the quarter. Corebridge Financial Inc.'s holdings in Regions Financial were worth $5,063,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Stevens Capital Management LP raised its position in shares of Regions Financial by 49.6% in the 4th quarter. Stevens Capital Management LP now owns 15,548 shares of the bank's stock valued at $366,000 after buying an additional 5,154 shares in the last quarter. LPL Financial LLC increased its stake in Regions Financial by 4.0% in the fourth quarter. LPL Financial LLC now owns 939,376 shares of the bank's stock valued at $22,094,000 after acquiring an additional 36,438 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Regions Financial during the fourth quarter valued at approximately $7,334,000. AXQ Capital LP bought a new stake in Regions Financial during the fourth quarter worth $438,000. Finally, Intellus Advisors LLC acquired a new stake in shares of Regions Financial in the 4th quarter valued at $353,000. Institutional investors own 79.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RF shares. Truist Financial lowered their price target on Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a report on Friday, March 21st. 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 report on Tuesday, December 10th. Barclays lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Citigroup lowered their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.95.

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Regions Financial Trading Down 10.8 %

Shares of Regions Financial stock traded down $2.37 on Thursday, reaching $19.65. 12,986,966 shares of the company's stock were exchanged, compared to its average volume of 7,841,290. 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 company has a market capitalization of $17.79 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The firm's 50-day moving average is $23.00 and its two-hundred day moving average is $23.90. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. Sell-side analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

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 5.09%. The ex-dividend date was Monday, March 3rd. Regions Financial's payout ratio is 51.55%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares of the company's stock, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders bought 3,868 shares of company stock valued at $86,722. Company insiders own 0.29% of the company's stock.

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.