Synovus Financial Corp Sells 144,861 Shares of Regions Financial Co. (NYSE:RF)

Synovus Financial Corp lessened its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 230,711 shares of the bank's stock after selling 144,861 shares during the period. Synovus Financial Corp's holdings in Regions Financial were worth $5,427,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RF. Orion Portfolio Solutions LLC acquired a new stake in shares of Regions Financial in the third quarter worth $210,000. MML Investors Services LLC boosted its position in Regions Financial by 7.7% during the 3rd quarter. MML Investors Services LLC now owns 71,669 shares of the bank's stock worth $1,672,000 after acquiring an additional 5,101 shares during the period. Sanctuary Advisors LLC grew its stake in Regions Financial by 282.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 321,840 shares of the bank's stock valued at $7,509,000 after acquiring an additional 237,601 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Regions Financial by 14.5% in the 3rd quarter. World Investment Advisors LLC now owns 15,837 shares of the bank's stock valued at $369,000 after purchasing an additional 2,010 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Regions Financial in the 3rd quarter worth approximately $56,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Up 0.5 %

Shares of RF stock traded up $0.09 during trading hours on Friday, reaching $19.26. The company had a trading volume of 18,651,917 shares, compared to its average volume of 8,180,312. 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 company has a 50 day moving average of $21.69 and a 200 day moving average of $23.58. The firm has a market cap of $17.44 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business posted $0.37 earnings per share. On average, equities research analysts anticipate 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, July 1st. Stockholders of record on Friday, May 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio is currently 51.55%.

Analyst Ratings Changes

Several analysts recently issued reports on RF shares. Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. Wells Fargo & Company reduced their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Citigroup decreased their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Morgan Stanley dropped their target price on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial reduced their price target 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.42.

Insider Activity

In related news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 3,343 shares of company stock worth $74,348 in the last 90 days. Corporate insiders own 0.29% of the company's stock.

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.