Regions Financial Co. (NYSE:RF) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. cut its stake in shares of Regions Financial Co. (NYSE:RF) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 19,925 shares of the bank’s stock after selling 1,500 shares during the period. First Manhattan CO. LLC.’s holdings in Regions Financial were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Deutsche Bank AG raised its position in shares of Regions Financial by 52.7% in the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank’s stock valued at $129,892,000 after buying an additional 1,907,121 shares during the last quarter. Dean Capital Management raised its position in shares of Regions Financial by 0.8% in the fourth quarter. Dean Capital Management now owns 73,151 shares of the bank’s stock valued at $1,721,000 after buying an additional 593 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Regions Financial by 8.5% in the fourth quarter. EP Wealth Advisors LLC now owns 44,502 shares of the bank’s stock valued at $1,047,000 after buying an additional 3,492 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Regions Financial in the fourth quarter valued at about $6,556,000. Finally, Cetera Investment Advisers raised its position in shares of Regions Financial by 6.8% in the fourth quarter. Cetera Investment Advisers now owns 292,379 shares of the bank’s stock valued at $6,877,000 after buying an additional 18,489 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Down 0.7%

Shares of RF stock opened at $21.16 on Monday. 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 firm has a market cap of $19.02 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. The company has a 50-day moving average of $20.62 and a two-hundred day moving average of $23.26. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $0.37 earnings per share. On average, analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Monday, June 2nd. Regions Financial’s payout ratio is 48.08%.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Stephens cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Truist Financial cut their price objective on shares of Regions Financial from $24.00 to $21.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup cut their price objective on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One 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’s stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and a consensus target price of $25.53.

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.