Prudential Financial Inc. Has $12.78 Million Stock Position in Regions Financial Co. (NYSE:RF)

Prudential Financial Inc. cut its stake in shares of Regions Financial Co. (NYSE:RF) by 12.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 543,135 shares of the bank’s stock after selling 75,904 shares during the quarter. Prudential Financial Inc.’s holdings in Regions Financial were worth $12,775,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RF. State Street Corp raised its position in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after buying an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC boosted its position in Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after buying an additional 315,605 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock worth $203,273,000 after acquiring an additional 112,885 shares during the last quarter. Finally, FMR LLC increased its position in Regions Financial by 8.4% in the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock valued at $72,548,000 after acquiring an additional 241,838 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Price Performance

Shares of RF opened at $21.93 on Friday. The stock has a market cap of $19.86 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.93 and a beta of 1.19. The business’s fifty day moving average is $23.30 and its 200 day moving average is $23.93. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Analyst Upgrades and Downgrades

RF has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup reduced their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley restated an “equal weight” rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.28.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, 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 SEC, which can be accessed through this link. Insiders have purchased a total of 3,993 shares of company stock valued at $89,682 over the last 90 days. Insiders own 0.29% of the company’s stock.

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.