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

LSV Asset Management trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,031,588 shares of the bank’s stock after selling 797,700 shares during the quarter. LSV Asset Management owned approximately 1.40% of Regions Financial worth $252,552,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RF. Sound Income Strategies LLC boosted its position in shares of Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares in the last quarter. HM Payson & Co. lifted its holdings in shares of Regions Financial by 2,000.0% in the third quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,000 shares in the last quarter. West Paces Advisors Inc. grew its position in shares of Regions Financial by 277.2% in the third quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,752 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in shares of Regions Financial by 69.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Regions Financial by 113.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock worth $45,000 after purchasing an additional 1,322 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on RF. Stephens reissued an “equal weight” rating and set a $21.00 price target on shares of Regions Financial in a research report on Tuesday, January 23rd. Evercore ISI upped their target price on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Argus lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Truist Financial reduced their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $20.34.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III acquired 50,000 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Regions Financial Trading Up 0.8 %

NYSE:RF traded up $0.16 on Friday, hitting $19.80. 4,133,671 shares of the stock were exchanged, compared to its average volume of 7,792,067. The stock has a market cap of $18.19 billion, a PE ratio of 10.76, a PEG ratio of 1.45 and a beta of 1.21. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $19.55 and a 200-day moving average of $18.22.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities analysts expect that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 4.85%. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

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.