Fifth Third Bancorp raised its stake in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 87.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,923 shares of the bank’s stock after acquiring an additional 40,147 shares during the quarter. Fifth Third Bancorp’s holdings in Regions Financial were worth $1,852,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. LSV Asset Management increased its holdings in shares of Regions Financial by 0.4% in the 3rd quarter. LSV Asset Management now owns 16,581,731 shares of the bank’s stock valued at $332,795,000 after acquiring an additional 74,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Regions Financial by 3.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 16,271,811 shares of the bank’s stock worth $362,211,000 after purchasing an additional 536,935 shares during the period. Dimensional Fund Advisors LP increased its stake in Regions Financial by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 13,578,909 shares of the bank’s stock valued at $272,522,000 after purchasing an additional 248,401 shares during the last quarter. Thornburg Investment Management Inc. increased its stake in Regions Financial by 5.6% during the third quarter. Thornburg Investment Management Inc. now owns 11,478,973 shares of the bank’s stock valued at $230,383,000 after purchasing an additional 607,185 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Regions Financial by 296.5% during the first quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock worth $234,902,000 after purchasing an additional 7,891,037 shares during the period. 72.87% of the stock is owned by institutional investors and hedge funds.
Regions Financial Stock Up 0.4 %
Shares of RF stock opened at $18.36 on Friday. Regions Financial Co. has a 1 year low of $13.94 and a 1 year high of $24.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.81 and a current ratio of 0.82. The business’s fifty day moving average is $21.27 and its 200-day moving average is $21.58. The stock has a market cap of $17.16 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.71 and a beta of 1.18.
Regions Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 4th. Investors of record on Friday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Thursday, March 9th. Regions Financial’s payout ratio is 35.24%.
Insiders Place Their Bets
In other news, EVP William D. Ritter sold 13,000 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $23.42, for a total transaction of $304,460.00. Following the completion of the sale, the executive vice president now owns 24,344 shares in the company, valued at approximately $570,136.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Regions Financial news, EVP William D. Ritter sold 13,000 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $23.42, for a total transaction of $304,460.00. Following the sale, the executive vice president now owns 24,344 shares in the company, valued at approximately $570,136.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP C. Matthew Lusco sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total transaction of $2,283,000.00. Following the completion of the transaction, the executive vice president now owns 77,843 shares of the company’s stock, valued at $1,777,155.69. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on RF shares. Jefferies Financial Group downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. DA Davidson assumed coverage on Regions Financial in a research report on Tuesday, December 20th. They set a “buy” rating and a $25.00 price target on the stock. Citigroup boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. Truist Financial dropped their target price on Regions Financial from $27.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Regions Financial from $25.00 to $24.00 in a report on Friday, January 6th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.26.
Regions Financial Profile
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.
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