Regions Financial Corporation $RF Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Regions Financial Corporation (NYSE:RF) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500,794 shares of the bank’s stock after selling 114,933 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.29% of Regions Financial worth $67,772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Empowered Funds LLC raised its holdings in shares of Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares in the last quarter. Woodline Partners LP increased its holdings in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after buying an additional 22,216 shares during the last quarter. Baird Financial Group Inc. raised its stake in Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after buying an additional 511 shares in the last quarter. Federated Hermes Inc. raised its stake in Regions Financial by 81.2% in the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after buying an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after buying an additional 6,690 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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 report on Tuesday, March 31st. UBS Group reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. The Goldman Sachs Group reissued a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a report on Tuesday, January 6th. Piper Sandler reduced their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 30th. Finally, Truist Financial dropped their target price on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, March 23rd. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $29.75.

Insider Buying and Selling

In other news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Regions Financial Trading Down 0.3%

RF opened at $27.74 on Wednesday. The firm has a market cap of $23.95 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.18 and a beta of 1.03. Regions Financial Corporation has a 52 week low of $18.83 and a 52 week high of $31.53. The business’s 50 day moving average is $27.63 and its two-hundred day moving average is $26.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. On average, research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

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.