Metis Global Partners LLC Lowers Stock Holdings in Regions Financial Co. (NYSE:RF)

Metis Global Partners LLC cut its holdings in Regions Financial Co. (NYSE:RF) by 12.7% in the 4th quarter, HoldingsChannel reports. The fund owned 52,269 shares of the bank’s stock after selling 7,574 shares during the period. Metis Global Partners LLC’s holdings in Regions Financial were worth $1,013,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Advisor Resource Council purchased a new position in Regions Financial during the fourth quarter worth approximately $1,944,000. Vestmark Advisory Solutions Inc. boosted its holdings in Regions Financial by 126.3% in the third quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank’s stock valued at $455,000 after acquiring an additional 14,756 shares during the last quarter. abrdn plc grew its position in Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock valued at $45,546,000 after acquiring an additional 341,878 shares during the period. LPL Financial LLC increased its stake in Regions Financial by 19.6% during the third quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock worth $10,019,000 after acquiring an additional 95,271 shares during the last quarter. Finally, Vaughan David Investments LLC IL raised its holdings in shares of Regions Financial by 48.9% in the 4th quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock worth $47,886,000 after purchasing an additional 811,174 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director William C. Rhodes III bought 50,000 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Regions Financial Price Performance

RF opened at $19.78 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $21.08. The company has a 50-day moving average of $19.66 and a 200-day moving average of $18.31. The company has a market capitalization of $18.18 billion, a P/E ratio of 10.75, a PEG ratio of 1.45 and a beta of 1.21.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts expect that Regions Financial Co. will post 1.95 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.85%. The ex-dividend date is Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Ratings Changes

RF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Royal Bank of Canada increased their price target on Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Evercore ISI boosted their price objective on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Piper Sandler upped their target price on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Finally, Morgan Stanley decreased their price target on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.34.

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.