Brown Brothers Harriman & Co. Cuts Stock Position in Regions Financial Co. (NYSE:RF)

Brown Brothers Harriman & Co. lowered its position in shares of Regions Financial Co. (NYSE:RF) by 38.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,582 shares of the bank’s stock after selling 13,735 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Regions Financial were worth $508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Y.D. More Investments Ltd lifted its holdings in Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Regions Financial in the fourth quarter worth about $28,000. Picton Mahoney Asset Management boosted its position in Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in Regions Financial during the 4th quarter valued at about $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Regions Financial in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 2.3 %

Shares of RF opened at $21.42 on Monday. The company’s 50-day simple moving average is $23.25 and its 200-day simple moving average is $23.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The stock has a market capitalization of $19.39 billion, a PE ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating 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 analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $0.39 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.67%. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired 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 owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 3,868 shares of company stock valued at $86,722 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RF shares. Morgan Stanley restated an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a 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. Barclays lifted their price target on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Piper Sandler upped their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Citigroup cut their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.17.

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.