Rhumbline Advisers Reduces Position in Regions Financial Co. (NYSE:RF)

Rhumbline Advisers trimmed its holdings in Regions Financial Co. (NYSE:RF) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,845,797 shares of the bank’s stock after selling 43,101 shares during the quarter. Rhumbline Advisers’ holdings in Regions Financial were worth $43,413,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RF. State Street Corp lifted its position in Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after buying an additional 7,791,399 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after acquiring an additional 1,452,956 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after acquiring an additional 816,226 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Regions Financial in the third quarter valued at about $17,589,000. Finally, Assenagon Asset Management S.A. increased its position in Regions Financial by 2,309.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 653,963 shares of the bank’s stock worth $15,381,000 after purchasing an additional 626,820 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Up 1.1 %

NYSE RF opened at $24.32 on Tuesday. The stock has a market capitalization of $22.10 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. 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 firm has a 50 day moving average of $24.23 and a two-hundred day moving average of $23.83. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. As a group, research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RF shares. Barclays boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Piper Sandler increased their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $24.00 to $26.00 in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Company 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.