Vestcor Inc Sells 6,870 Shares of Regions Financial Co. (NYSE:RF)

Vestcor Inc lowered its stake in shares of Regions Financial Co. (NYSE:RF) by 34.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,854 shares of the bank’s stock after selling 6,870 shares during the quarter. Vestcor Inc’s holdings in Regions Financial were worth $302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP lifted its position in shares of Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after buying an additional 394 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Regions Financial by 2.5% during the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after acquiring an additional 420 shares during the last quarter. Prossimo Advisors LLC lifted its holdings in Regions Financial by 2.3% during the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock worth $453,000 after acquiring an additional 430 shares during the period. Greenleaf Trust boosted its position in Regions Financial by 1.8% in the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock worth $573,000 after purchasing an additional 436 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its stake in Regions Financial by 2.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after purchasing an additional 436 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired a total of 4,523 shares of company stock valued at $102,269 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Price Performance

RF stock opened at $21.54 on Tuesday. The firm has a 50 day moving average of $23.62 and a 200-day moving average of $24.00. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $19.50 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $0.39 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.64%. Regions Financial’s dividend payout ratio is currently 51.55%.

Analyst Ratings Changes

A number of research firms have recently commented on RF. The Goldman Sachs Group lifted their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Citigroup lowered their price objective on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler increased their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point lifted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial increased their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

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.