Regions Financial Co. (NYSE:RF) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its stake in Regions Financial Co. (NYSE:RF) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,023,310 shares of the bank’s stock after selling 640,400 shares during the quarter. LSV Asset Management’s holdings in Regions Financial were worth $235,748,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 worth $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after acquiring an additional 403,283 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock worth $363,823,000 after acquiring an additional 1,963,954 shares during the last quarter. Norges Bank acquired a new position in shares of Regions Financial in the fourth quarter worth $279,103,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of 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 purchasing an additional 112,885 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Trading Up 9.1 %

Shares of RF opened at $20.01 on Thursday. The company has a market capitalization of $18.12 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.93 and a beta of 1.01. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50-day moving average price of $22.31 and a 200 day moving average price of $23.74.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. Regions Financial’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. Sell-side analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Monday, March 3rd. Regions Financial’s dividend payout ratio is currently 51.55%.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders acquired 3,868 shares of company stock valued at $86,722. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RF. Citigroup lowered their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Truist Financial lowered their price objective on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Wells Fargo & Company lowered their price objective on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Morgan Stanley lowered their price objective on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.42.

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.