National Pension Service Has $31.81 Million Position in Regions Financial Co. (NYSE:RF)

National Pension Service cut its position in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 1.5% during the 3rd quarter, Holdings Channel reports. The firm owned 1,600,668 shares of the bank’s stock after selling 24,949 shares during the quarter. National Pension Service’s holdings in Regions Financial were worth $31,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Evergreen Capital Management LLC acquired a new position in shares of Regions Financial in the third quarter valued at $237,000. Russell Investments Group Ltd. raised its holdings in Regions Financial by 15.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,578,264 shares of the bank’s stock valued at $31,643,000 after acquiring an additional 206,798 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Regions Financial during the second quarter worth approximately $6,778,000. EP Wealth Advisors LLC bought a new stake in shares of Regions Financial during the second quarter worth approximately $221,000. Finally, Seven Eight Capital LP grew its position in shares of Regions Financial by 204.2% in the third quarter. Seven Eight Capital LP now owns 33,263 shares of the bank’s stock valued at $668,000 after purchasing an additional 22,330 shares during the last quarter. 72.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Regions Financial news, EVP C. Matthew Lusco sold 100,000 shares of the business’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total transaction of $2,283,000.00. Following the completion of the transaction, the executive vice president now owns 77,843 shares of the company’s stock, valued at $1,777,155.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP C. Matthew Lusco sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total value of $2,283,000.00. Following the completion of the transaction, the executive vice president now owns 77,843 shares of the company’s stock, valued at $1,777,155.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William D. Ritter sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $23.42, for a total value of $304,460.00. Following the completion of the transaction, the executive vice president now directly owns 24,344 shares of the company’s stock, valued at approximately $570,136.48. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Regions Financial Trading Up 5.4 %

RF opened at $18.61 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 0.72 and a beta of 1.22. Regions Financial Co. has a twelve month low of $13.94 and a twelve month high of $24.33. The company has a 50-day simple moving average of $22.62 and a 200 day simple moving average of $21.97.

Regions Financial (NYSE:RF – Get Rating) last issued its earnings results on Friday, January 20th. The bank reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 16.14% and a net margin of 29.81%. Analysts predict that Regions Financial Co. will post 2.57 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.30%. The ex-dividend date is Thursday, March 9th. Regions Financial’s payout ratio is 35.24%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RF. Raymond James cut Regions Financial from an “outperform” rating to a “market perform” rating in a report on Monday, November 21st. Wells Fargo & Company cut shares of Regions Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, November 21st. Truist Financial boosted their target price on shares of Regions Financial from $24.00 to $27.00 in a research report on Monday, January 23rd. StockNews.com initiated coverage on shares of Regions Financial in a research report on Thursday. They issued a “hold” rating for the company. Finally, UBS Group cut shares of Regions Financial from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research report on Tuesday, January 10th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Regions Financial Company Profile

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Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.