Regions Financial Co. (NYSE:RF) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB reduced its stake in shares of Regions Financial Co. (NYSE:RF) by 78.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,920 shares of the bank’s stock after selling 212,283 shares during the period. AMF Tjanstepension AB’s holdings in Regions Financial were worth $1,339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its holdings in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after acquiring an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Regions Financial by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after acquiring an additional 112,885 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Regions Financial by 0.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after purchasing an additional 61,426 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Performance

NYSE:RF opened at $22.10 on Friday. The firm has a market capitalization of $20.01 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The business’s fifty day moving average price is $23.90 and its 200 day moving average price is $24.05. 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 12 month low of $17.72 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last posted its earnings results 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 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 quarter in the prior year, the company posted $0.39 earnings per share. Regions Financial’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.53%. Regions Financial’s dividend payout ratio is presently 51.55%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays boosted their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Piper Sandler boosted their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial boosted their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Finally, Citigroup upped 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

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.