DnB Asset Management AS Sells 224,922 Shares of Regions Financial Co. (NYSE:RF)

DnB Asset Management AS cut its position in Regions Financial Co. (NYSE:RF) by 58.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,837 shares of the bank’s stock after selling 224,922 shares during the quarter. DnB Asset Management AS’s holdings in Regions Financial were worth $3,783,000 as of its most recent SEC filing.

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

Regions Financial Trading Up 1.6 %

RF opened at $21.77 on Tuesday. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The firm has a market capitalization of $19.71 billion, a PE ratio of 11.22, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company’s 50-day moving average is $23.20 and its 200 day moving average is $23.95.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 annualized dividend and a dividend yield of 4.59%. Regions Financial’s payout ratio is 51.55%.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 3,868 shares of company stock worth $86,722 over the last quarter. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RF shares. Compass Point increased their price target on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley reissued an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Citigroup reduced their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Barclays lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Finally, Piper Sandler boosted their target price 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.