Securian Asset Management Inc. Lowers Holdings in Regions Financial Co. (NYSE:RF)

Posted by Defense World Staff on Apr 24th, 2023

Securian Asset Management Inc. decreased its stake in Regions Financial Co. (NYSE:RF – Get Rating) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,724 shares of the bank’s stock after selling 710 shares during the quarter. Securian Asset Management Inc.’s holdings in Regions Financial were worth $1,654,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RF. Larson Financial Group LLC boosted its position in Regions Financial by 1,507.7% during the fourth quarter. Larson Financial Group LLC now owns 2,508 shares of the bank’s stock worth $54,000 after purchasing an additional 2,352 shares in the last quarter. Abundance Wealth Counselors boosted its position in Regions Financial by 19.3% during the fourth quarter. Abundance Wealth Counselors now owns 19,152 shares of the bank’s stock worth $413,000 after purchasing an additional 3,101 shares in the last quarter. Mach 1 Financial Group LLC purchased a new position in Regions Financial during the fourth quarter worth approximately $919,000. Simplicity Solutions LLC purchased a new position in Regions Financial during the fourth quarter worth approximately $219,000. Finally, Raymond James Trust N.A. boosted its position in Regions Financial by 2.3% during the fourth quarter. Raymond James Trust N.A. now owns 72,724 shares of the bank’s stock worth $1,568,000 after purchasing an additional 1,616 shares in the last quarter. Hedge funds and other institutional investors own 72.87% of the company’s stock.

Insider Transactions at Regions Financial

In other news, EVP William D. Ritter sold 13,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 24,344 shares in the company, valued at $570,136.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP C. Matthew Lusco sold 100,000 shares of Regions Financial stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total value of $2,283,000.00. Following the completion of the transaction, the executive vice president now directly owns 77,843 shares in the company, valued at $1,777,155.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William D. Ritter sold 13,000 shares of the firm’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $23.42, for a total value of $304,460.00. Following the completion of the sale, the executive vice president now owns 24,344 shares in the company, valued at $570,136.48. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Regions Financial Price Performance

RF stock opened at $18.36 on Monday. The business has a fifty day moving average of $20.25 and a two-hundred day moving average of $21.43. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.16. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18. Regions Financial Co. has a 52-week low of $13.94 and a 52-week high of $24.33.

Regions Financial (NYSE:RF – Get Rating) last posted its earnings results on Friday, April 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.03). Regions Financial had a return on equity of 16.14% and a net margin of 29.81%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business earned $0.55 EPS. Regions Financial’s revenue was up 22.0% compared to the same quarter last year. As a group, research analysts anticipate that Regions Financial Co. will post 2.49 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.36%. Regions Financial’s dividend payout ratio is currently 34.19%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RF shares. Wells Fargo & Company lowered their price target on Regions Financial from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 3rd. Jefferies Financial Group cut Regions Financial from a “buy” rating to a “hold” rating in a report on Monday, January 9th. JPMorgan Chase & Co. reduced their target price on Regions Financial from $26.00 to $23.00 in a report on Monday, April 10th. Truist Financial reduced their target price on Regions Financial from $27.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, March 23rd. Finally, Barclays reduced their target price on Regions Financial from $29.00 to $23.00 in a report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.42.

About Regions Financial

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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.