Russell Investments Group Ltd. Cuts Stock Position in Regions Financial Co. (NYSE:RF)

Russell Investments Group Ltd. cut its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,638,130 shares of the bank's stock after selling 96,892 shares during the period. Russell Investments Group Ltd. owned approximately 0.29% of Regions Financial worth $62,068,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its stake 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 valued at $27,000 after purchasing an additional 634 shares during the period. Sierra Ocean LLC purchased a new stake in Regions Financial in the 4th quarter valued at about $28,000. Picton Mahoney Asset Management grew its stake in 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 acquiring an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Regions Financial during the fourth quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Regions Financial during the third quarter valued at approximately $37,000. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on RF. JPMorgan Chase & Co. decreased their target price on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Barclays upped their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. Wells Fargo & Company cut their target price on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Citigroup lowered 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 report on Monday, March 24th. Finally, Truist Financial cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.42.

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Insider Activity

In other news, Director Joia M. Johnson acquired 2,300 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 3,868 shares of company stock valued at $86,722 in the last quarter. 0.29% of the stock is currently owned by company insiders.

Regions Financial Stock Performance

Shares of RF stock traded down $0.04 during mid-day trading on Friday, reaching $18.96. The stock had a trading volume of 13,080,597 shares, compared to its average volume of 8,102,368. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 1.93 and a beta of 1.01. The business's fifty day moving average is $22.10 and its 200-day moving average is $23.69.

Regions Financial (NYSE:RF - Get Free Report) last announced 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 net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the previous year, the business posted $0.39 EPS. The business's quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.27%. Regions Financial's payout ratio is currently 51.55%.

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.