Regions Financial Co. (NYSE:RF) Stake Lowered by Legal & General Group Plc

Legal & General Group Plc decreased its stake in Regions Financial Co. (NYSE:RF) by 19.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,788,980 shares of the bank’s stock after selling 1,418,099 shares during the period. Legal & General Group Plc owned 0.64% of Regions Financial worth $136,157,000 at the end of the most recent reporting period.

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

Regions Financial Stock Down 5.6 %

Shares of Regions Financial stock opened at $18.89 on Friday. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The firm has a market capitalization of $17.10 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $22.21 and its 200-day moving average is $23.71.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Monday, March 3rd. Regions Financial’s dividend payout ratio is 51.55%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RF shares. JPMorgan Chase & Co. reduced 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. Wells Fargo & Company reduced their price target 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 target on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday. Citigroup reduced their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Truist Financial dropped their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.42.

Insiders Place Their Bets

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have bought 3,868 shares of company stock worth $86,722. Corporate insiders own 0.29% of the company’s stock.

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.