Regions Financial Co. (NYSE:RF) Shares Sold by Summit Financial LLC

Summit Financial LLC lowered its holdings in Regions Financial Co. (NYSE:RF) by 12.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 57,286 shares of the bank’s stock after selling 7,813 shares during the quarter. Summit Financial LLC’s holdings in Regions Financial were worth $1,362,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. LBP AM SA grew its stake in Regions Financial by 149.4% during the 4th 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 purchased a new position in shares of Regions Financial during the 4th quarter valued at approximately $1,965,000. Aprio Wealth Management LLC acquired a new stake in shares of Regions Financial during the fourth quarter worth approximately $1,247,000. Nordea Investment Management AB increased its stake in shares of Regions Financial by 60.4% in the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after buying an additional 99,115 shares during the last quarter. Finally, Vest Financial LLC raised its holdings in Regions Financial by 20.4% in the fourth 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. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 0.8 %

Regions Financial stock opened at $21.55 on Wednesday. Regions Financial Co. has a twelve month low of $17.72 and a twelve month 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 firm has a market cap of $19.52 billion, a PE ratio of 11.11, a P/E/G ratio of 1.93 and a beta of 1.19. The firm’s 50 day moving average price is $23.13 and its two-hundred day moving average price is $23.94.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $0.39 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, research analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.64%. Regions Financial’s dividend payout ratio (DPR) is currently 51.55%.

Analysts Set New Price Targets

RF has been the subject of several research analyst reports. 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 report on Friday, March 21st. Citigroup lowered their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 24th. Piper Sandler raised their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.17.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 3,868 shares of company stock worth $86,722 over the last 90 days. Insiders own 0.29% of the company’s stock.

Regions Financial 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.