Regions Financial Co. (NYSE:RF) Shares Sold by Principal Financial Group Inc.


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Principal Financial Group Inc. lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,683,607 shares of the bank’s stock after selling 66,711 shares during the period. Principal Financial Group Inc. owned 0.18% of Regions Financial worth $27,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of Regions Financial by 49.7% during the 4th quarter. JPMorgan Chase & Co. now owns 33,822,024 shares of the bank’s stock worth $545,211,000 after purchasing an additional 11,228,412 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Regions Financial by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,502,027 shares of the bank’s stock worth $201,533,000 after purchasing an additional 348,680 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Regions Financial by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,920,036 shares of the bank’s stock worth $143,791,000 after purchasing an additional 298,996 shares during the last quarter. Morgan Stanley raised its position in shares of Regions Financial by 80.3% during the 4th quarter. Morgan Stanley now owns 6,127,019 shares of the bank’s stock worth $98,768,000 after purchasing an additional 2,727,960 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Regions Financial by 5.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,752,631 shares of the bank’s stock worth $76,613,000 after purchasing an additional 238,524 shares during the last quarter. Hedge funds and other institutional investors own 71.67% of the company’s stock.

Several brokerages recently issued reports on RF. The Goldman Sachs Group cut shares of Regions Financial from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 7th. Compass Point raised shares of Regions Financial from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Friday, January 15th. Argus upped their price objective on shares of Regions Financial from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 26th. Stephens upped their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, March 30th. Finally, Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $16.00 to $18.50 in a research note on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. Regions Financial currently has a consensus rating of “Buy” and an average target price of $17.75.

In other Regions Financial news, EVP Ronald G. Smith sold 56,147 shares of the stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $20.23, for a total transaction of $1,135,853.81. Following the sale, the executive vice president now directly owns 219,667 shares in the company, valued at approximately $4,443,863.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO John B. Owen sold 75,000 shares of the stock in a transaction that occurred on Tuesday, January 26th. The stock was sold at an average price of $17.73, for a total transaction of $1,329,750.00. Following the sale, the chief operating officer now owns 70,187 shares in the company, valued at $1,244,415.51. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

NYSE:RF opened at $21.12 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $20.29 billion, a P/E ratio of 26.73, a PEG ratio of 1.53 and a beta of 1.58. The company has a 50 day moving average price of $20.93 and a 200 day moving average price of $16.72. Regions Financial Co. has a fifty-two week low of $8.41 and a fifty-two week high of $22.61.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 22nd. The bank reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.20. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Regions Financial had a net margin of 13.17% and a return on equity of 5.61%. Research analysts forecast that Regions Financial Co. will post 0.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Friday, March 5th were given a dividend of $0.155 per share. The ex-dividend date was Thursday, March 4th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.94%. Regions Financial’s payout ratio is currently 40.00%.

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.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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