DnB Asset Management AS Sells 224,922 Shares of Regions Financial Co. (NYSE:RF)

DnB Asset Management AS trimmed its position in Regions Financial Co. (NYSE:RF - Free Report) by 58.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,837 shares of the bank's stock after selling 224,922 shares during the quarter. DnB Asset Management AS's holdings in Regions Financial were worth $3,783,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Y.D. More Investments Ltd increased its holdings in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after purchasing an additional 634 shares during the period. Sierra Ocean LLC acquired a new position in shares of Regions Financial in the 4th quarter valued at approximately $28,000. Picton Mahoney Asset Management boosted its position in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after acquiring an additional 1,201 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Regions Financial during the 4th quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC bought a new position in Regions Financial in the third quarter valued at approximately $37,000. Institutional investors own 79.39% of the company's stock.

Insider Activity

In related news, Director Joia M. Johnson bought 2,300 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 3,868 shares of company stock worth $86,722 over the last three months. 0.29% of the stock is currently owned by insiders.

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Regions Financial Stock Down 5.1 %

Shares of NYSE RF traded down $1.00 during trading on Friday, hitting $18.61. 9,957,468 shares of the company traded hands, compared to its average volume of 7,851,807. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 1.93 and a beta of 1.19. The business's fifty day moving average is $23.00 and its 200 day moving average is $23.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84.

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

Regions Financial Announces Dividend

The firm also recently disclosed 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 dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial's dividend payout ratio (DPR) is 51.55%.

Wall Street Analyst Weigh In

RF has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a report on Friday, March 21st. 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. 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. Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. 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 research note 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 given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $26.95.

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.