Alliancebernstein L.P. Has $22.78 Million Stake in Regions Financial Co. (NYSE:RF)

Alliancebernstein L.P. lowered its holdings in shares of Regions Financial Co. (NYSE:RF) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 968,596 shares of the bank’s stock after selling 61,743 shares during the quarter. Alliancebernstein L.P.’s holdings in Regions Financial were worth $22,781,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. LBP AM SA raised its holdings in Regions Financial by 149.4% during the 4th quarter. LBP AM SA now owns 730,614 shares of the bank’s stock worth $17,184,000 after buying an additional 437,691 shares during the period. Aigen Investment Management LP bought a new stake in shares of Regions Financial during the fourth quarter worth $1,965,000. Aprio Wealth Management LLC acquired a new stake in shares of Regions Financial during the fourth quarter worth $1,247,000. Nordea Investment Management AB lifted its position in Regions Financial by 60.4% in the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock valued at $6,220,000 after acquiring an additional 99,115 shares in the last quarter. Finally, Vest Financial LLC lifted its position in Regions Financial by 20.4% in the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock valued at $34,806,000 after acquiring an additional 250,729 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 0.1 %

RF opened at $18.65 on Tuesday. The stock’s fifty day simple moving average is $22.76 and its 200 day simple moving average is $23.86. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The stock has a market cap of $16.89 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. 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 (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. As a group, research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial’s dividend payout ratio is presently 51.55%.

Analyst Ratings Changes

A number of research firms have issued reports on RF. Morgan Stanley lowered 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. Wells Fargo & Company cut their target price 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. Barclays raised their price target 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. Citigroup cut their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Truist Financial decreased their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.42.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The stock was bought 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 in the company, valued at $370,353.48. The trade was a 15.15 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have bought 3,868 shares of company stock valued at $86,722. 0.29% of the stock is owned by insiders.

About Regions Financial

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.