Regions Financial Co. (NYSE:RF) Stock Position Trimmed by Korea Investment CORP

Korea Investment CORP lessened its stake in Regions Financial Co. (NYSE:RF - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 577,053 shares of the bank's stock after selling 11,956 shares during the quarter. Korea Investment CORP owned about 0.06% of Regions Financial worth $13,572,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Y.D. More Investments Ltd boosted its holdings in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock valued at $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Regions Financial during the fourth quarter worth about $28,000. Picton Mahoney Asset Management raised its holdings in shares of Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after purchasing an additional 1,201 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Regions Financial in the 4th quarter valued at about $32,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Regions Financial during the 3rd quarter worth about $37,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent research reports. Citigroup reduced their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Barclays lifted their target price 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. Morgan Stanley reiterated an "equal weight" rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Wells Fargo & Company reduced their price objective on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Finally, Truist Financial lowered their target price on 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 given a buy rating to the stock. According to MarketBeat.com, Regions Financial has an average rating of "Moderate Buy" and a consensus target price of $26.95.

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Regions Financial Stock Down 4.9 %

Shares of RF stock traded down $0.97 during trading hours on Friday, hitting $18.64. 14,885,113 shares of the company were exchanged, compared to its average volume of 7,879,903. The stock has a market capitalization of $16.88 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The business's 50-day simple moving average is $22.88 and its two-hundred day simple moving average is $23.87. 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 earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.39 EPS. Regions Financial's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 5.36%. Regions Financial's payout ratio is 51.55%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson bought 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 3,868 shares of company stock valued at $86,722. Company insiders own 0.29% of the company's stock.

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.