Prudential PLC Reduces Stock Position in Regions Financial Corporation $RF

Prudential PLC lowered its stake in Regions Financial Corporation (NYSE:RF) by 21.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,477 shares of the bank’s stock after selling 62,243 shares during the quarter. Prudential PLC’s holdings in Regions Financial were worth $6,165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Regions Financial by 85.9% in the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock worth $121,976,000 after purchasing an additional 2,137,062 shares during the last quarter. Stevens Capital Management LP boosted its holdings in Regions Financial by 355.9% in the third quarter. Stevens Capital Management LP now owns 42,850 shares of the bank’s stock worth $1,130,000 after purchasing an additional 33,450 shares during the last quarter. ABC Arbitrage SA purchased a new stake in Regions Financial in the third quarter worth approximately $860,000. Schroder Investment Management Group boosted its holdings in Regions Financial by 11.2% in the third quarter. Schroder Investment Management Group now owns 1,732,045 shares of the bank’s stock worth $45,899,000 after purchasing an additional 173,871 shares during the last quarter. Finally, Swiss Life Asset Management Ltd boosted its holdings in Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after purchasing an additional 1,600,926 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of NYSE RF opened at $28.57 on Friday. The firm has a fifty day moving average price of $27.48 and a 200-day moving average price of $27.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $24.38 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00. Regions Financial Corporation has a 1 year low of $21.40 and a 1 year high of $31.53.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 earnings per share. Equities analysts anticipate that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.7%. Regions Financial’s dividend payout ratio is 44.17%.

Wall Street Analyst Weigh In

RF has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a report on Tuesday, March 3rd. Piper Sandler reduced their target price on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 30th. DA Davidson upped their target price on shares of Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.47.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.