Basswood Capital Management L.L.C. lowered its position in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 44.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 456,523 shares of the bank’s stock after selling 367,530 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in Regions Financial were worth $12,372,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock worth $862,792,000 after buying an additional 215,061 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares in the last quarter. Morgan Stanley lifted its position in shares of Regions Financial by 1.3% during the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock worth $497,459,000 after buying an additional 231,924 shares in the last quarter. Norges Bank bought a new position in shares of Regions Financial during the 4th quarter worth approximately $254,564,000. Finally, LSV Asset Management lifted its position in shares of Regions Financial by 4.0% during the 4th quarter. LSV Asset Management now owns 9,286,352 shares of the bank’s stock worth $251,660,000 after buying an additional 357,101 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.
Regions Financial Price Performance
Regions Financial stock opened at $29.24 on Friday. Regions Financial Corporation has a 12 month low of $21.40 and a 12 month high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The business’s 50 day simple moving average is $27.79 and its 200 day simple moving average is $27.65. The company has a market cap of $24.95 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.14 and a beta of 1.00.
Regions Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.6%. Regions Financial’s dividend payout ratio is presently 44.17%.
Insider Buying and Selling
In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.
Wall Street Analysts Forecast Growth
RF has been the topic of several recent analyst reports. Truist Financial reissued a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. DA Davidson lifted their target price on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. lowered their price target on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. Finally, Morgan Stanley dropped their price objective on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.47.
Check Out Our Latest Stock Report on Regions Financial
Regions Financial Company Profile
Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.
In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.
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