Vanguard Group Inc. Reduces Position in Regions Financial Co. (NYSE:RF)

Vanguard Group Inc. lowered its stake in Regions Financial Co. (NYSE:RF - Free Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 112,419,329 shares of the bank's stock after selling 654,703 shares during the quarter. Vanguard Group Inc. owned 12.37% of Regions Financial worth $2,644,103,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd lifted its position in shares of 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 in the last quarter. Sierra Ocean LLC acquired a new position in Regions Financial in the 4th quarter valued at $28,000. Picton Mahoney Asset Management boosted its stake in 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 purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Regions Financial during the fourth quarter worth $32,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Regions Financial in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Trading Down 2.3 %

Shares of NYSE:RF traded down $0.52 during mid-day trading on Friday, reaching $21.42. 5,096,899 shares of the company were exchanged, compared to its average volume of 7,797,532. The firm has a market cap of $19.39 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The firm's 50-day simple moving average is $23.25 and its 200 day simple moving average is $23.95.

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Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping 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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business posted $0.39 earnings per share. The company's quarterly revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.67%. Regions Financial's dividend payout ratio is presently 51.55%.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired 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 owns 17,486 shares of the company's stock, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 3,993 shares of company stock valued at $89,682. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on RF. Citigroup dropped 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 note on Monday, March 24th. Compass Point upped their price target on Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Truist Financial reduced their price objective on Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Morgan Stanley restated an "equal weight" rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Barclays lifted their price target on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.17.

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.