Corebridge Financial Inc. Has $5.06 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Corebridge Financial Inc. cut its holdings in shares of Regions Financial Co. (NYSE:RF) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,272 shares of the bank’s stock after selling 11,971 shares during the period. Corebridge Financial Inc.’s holdings in Regions Financial were worth $5,063,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Y.D. More Investments Ltd boosted its stake in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial in the 4th quarter valued at approximately $28,000. Picton Mahoney Asset Management grew its holdings in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Regions Financial during the 4th quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC bought a new position in Regions Financial in the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity

In other news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 3,993 shares of company stock worth $89,682 in the last three months. Company insiders own 0.29% of the company’s stock.

Regions Financial Stock Down 2.3 %

Shares of NYSE:RF opened at $21.42 on Friday. The business’s 50-day moving average is $23.25 and its 200-day moving average is $23.93. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last announced its quarterly earnings data 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 quarter last year, the firm posted $0.39 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.67%. Regions Financial’s dividend payout ratio is currently 51.55%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RF shares. Piper Sandler boosted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company cut their price target on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday. Citigroup lowered their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.17.

Regions Financial 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.