Nuveen Asset Management LLC Sells 269,480 Shares of Regions Financial Co. (NYSE:RF)

Nuveen Asset Management LLC reduced its stake in shares of Regions Financial Co. (NYSE:RF) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,432,557 shares of the bank’s stock after selling 269,480 shares during the quarter. Nuveen Asset Management LLC owned about 0.27% of Regions Financial worth $57,214,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock valued at $540,284,000 after buying an additional 403,283 shares during the period. First Trust Advisors LP lifted its holdings in Regions Financial by 7.7% in the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock valued at $401,097,000 after buying an additional 1,224,645 shares during the period. Invesco Ltd. lifted its holdings in Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after buying an additional 1,963,954 shares during the period. Finally, Norges Bank acquired a new position in Regions Financial in the fourth quarter valued at approximately $279,103,000. 79.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RF. Barclays cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. Citigroup cut their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. cut their price objective on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price objective on shares of Regions Financial from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Finally, TD Cowen began coverage on shares of Regions Financial in a report on Thursday. They issued a “buy” rating and a $31.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and a consensus price target of $25.80.

Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Regions Financial Trading Up 0.6%

Shares of NYSE:RF opened at $22.60 on Monday. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. 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 company’s fifty day simple moving average is $20.69 and its 200 day simple moving average is $23.21. The firm has a market cap of $20.31 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.93 and a beta of 0.97.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business posted $0.37 earnings per share. As a group, research analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.43%. Regions Financial’s payout ratio is 48.08%.

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.