LSV Asset Management Sells 640,400 Shares of Regions Financial Co. (NYSE:RF)

LSV Asset Management lowered its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,023,310 shares of the bank's stock after selling 640,400 shares during the quarter. LSV Asset Management owned about 1.10% of Regions Financial worth $235,748,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RF. Quarry LP lifted its position in shares of Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank's stock worth $40,000 after acquiring an additional 394 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of Regions Financial in the third quarter valued at $453,000. EP Wealth Advisors LLC bought a new position in Regions Financial in the third quarter worth $957,000. Orion Portfolio Solutions LLC bought a new position in Regions Financial in the third quarter worth $210,000. Finally, MML Investors Services LLC boosted its stake in Regions Financial by 7.7% during the third quarter. MML Investors Services LLC now owns 71,669 shares of the bank's stock worth $1,672,000 after buying an additional 5,101 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RF. Truist Financial reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a report on Friday, March 21st. Citigroup cut their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Barclays lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Morgan Stanley dropped their target price on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Finally, Wells Fargo & Company decreased their price target 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Regions Financial presently has an average rating of "Moderate Buy" and an average target price of $26.42.

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Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the acquisition, the director now directly owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 3,868 shares of company stock worth $86,722 over the last three months. 0.29% of the stock is currently owned by company insiders.

Regions Financial Price Performance

Shares of NYSE RF traded down $0.04 during trading on Friday, reaching $18.96. The company had a trading volume of 13,080,597 shares, compared to its average volume of 8,102,368. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The business's 50 day moving average price is $22.10 and its 200-day moving average price is $23.69. The stock has a market cap of $17.17 billion, a PE ratio of 9.77, a PEG ratio of 1.93 and a beta of 1.01. 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 posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. Regions Financial's revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 EPS. Analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.27%. The ex-dividend date was Monday, March 3rd. Regions Financial's dividend payout ratio is 51.55%.

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.