Principal Financial Group Inc. Sells 22,013 Shares of Regions Financial Co. (NYSE:RF)

Principal Financial Group Inc. lessened its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,065,684 shares of the bank's stock after selling 22,013 shares during the period. Principal Financial Group Inc. owned 0.12% of Regions Financial worth $25,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RF. Y.D. More Investments Ltd raised its stake in 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 acquiring an additional 634 shares during the period. Sierra Ocean LLC bought a new position in Regions Financial during the 4th quarter worth $28,000. Truvestments Capital LLC bought a new position in Regions Financial during the 3rd quarter worth $37,000. Legacy Investment Solutions LLC bought a new position in Regions Financial during the 3rd quarter worth $37,000. Finally, Quarry LP increased its position in Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank's stock worth $40,000 after buying an additional 394 shares during the period. Institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

Shares of RF opened at $23.39 on Monday. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. 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 business's 50 day moving average price is $24.11 and its two-hundred day moving average price is $23.95. The firm has a market cap of $21.26 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (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 for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The company's revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.28%. The ex-dividend date is Monday, March 3rd. Regions Financial's dividend payout ratio (DPR) is presently 51.55%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup increased their price objective on Regions Financial from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Piper Sandler increased their target price on Regions Financial from $25.00 to $29.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Stephens raised Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 target price on the stock in a report on Tuesday, October 29th. Morgan Stanley reissued an "equal weight" rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Compass Point increased 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. One 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.67.

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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Co. (NYSE:RF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.