Aviva PLC Sells 1,116,008 Shares of Regions Financial Co. (NYSE:RF)

Aviva PLC lowered its position in shares of Regions Financial Co. (NYSE:RF) by 66.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 551,340 shares of the bank’s stock after selling 1,116,008 shares during the period. Aviva PLC owned about 0.06% of Regions Financial worth $12,968,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Y.D. More Investments Ltd grew its holdings in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Regions Financial during the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management grew its holdings in Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares during the last quarter. Millstone Evans Group LLC bought a new stake in Regions Financial during the 4th quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC acquired a new position in Regions Financial in the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Down 0.1 %

Shares of Regions Financial stock opened at $18.65 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The stock has a 50 day moving average price of $22.76 and a two-hundred day moving average price of $23.86. The stock has a market capitalization of $16.89 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF) last announced 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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business posted $0.39 EPS. Regions Financial’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 5.36%. Regions Financial’s payout ratio is 51.55%.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 3,868 shares of company stock worth $86,722. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RF shares. 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. Truist Financial reduced their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered their price objective on Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Barclays upped their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Finally, Compass Point raised 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.42.

About Regions Financial

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.