Alliancebernstein L.P. Sells 61,743 Shares of Regions Financial Co. (NYSE:RF)

Alliancebernstein L.P. cut its position in shares of Regions Financial Co. (NYSE:RF) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 968,596 shares of the bank’s stock after selling 61,743 shares during the period. Alliancebernstein L.P. owned about 0.11% of Regions Financial worth $22,781,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. LBP AM SA boosted its holdings in Regions Financial by 149.4% during the fourth quarter. LBP AM SA now owns 730,614 shares of the bank’s stock valued at $17,184,000 after purchasing an additional 437,691 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Regions Financial during the 4th quarter worth approximately $1,965,000. Aprio Wealth Management LLC acquired a new stake in Regions Financial in the 4th quarter valued at $1,247,000. Nordea Investment Management AB grew its position in Regions Financial by 60.4% in the fourth 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 during the period. Finally, Vest Financial LLC raised its stake in Regions Financial by 20.4% during the fourth quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock worth $34,806,000 after acquiring an additional 250,729 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RF shares. Citigroup reduced their target price on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Barclays raised their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Morgan Stanley reduced their target price on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Truist Financial dropped their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and an average target price of $26.42.

Insiders Place Their Bets

In other news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have purchased 3,868 shares of company stock worth $86,722. Insiders own 0.29% of the company’s stock.

Regions Financial Stock Down 0.1 %

Shares of NYSE:RF opened at $18.65 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $16.89 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.93 and a beta of 1.01. The company has a 50 day moving average of $22.76 and a 200-day moving average of $23.86. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion during 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 business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. On average, sell-side analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

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.