Regions Financial Corporation $RF Stake Trimmed by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Regions Financial Corporation (NYSE:RF) by 35.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,446 shares of the bank’s stock after selling 38,282 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Regions Financial were worth $1,814,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Regions Financial in the fourth quarter worth about $254,564,000. Victory Capital Management Inc. raised its holdings in shares of Regions Financial by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after acquiring an additional 9,312,449 shares during the period. First Trust Advisors LP raised its holdings in shares of Regions Financial by 118.6% during the fourth quarter. First Trust Advisors LP now owns 7,604,482 shares of the bank’s stock valued at $206,081,000 after acquiring an additional 4,125,776 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after acquiring an additional 2,980,505 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after acquiring an additional 2,371,048 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

RF opened at $29.35 on Wednesday. The stock has a market cap of $25.05 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.09 and a beta of 1.00. Regions Financial Corporation has a 1 year low of $22.69 and a 1 year high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $28.04 and a 200 day moving average price of $27.83.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $0.54 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Analysts forecast that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.6%. Regions Financial’s payout ratio is presently 44.17%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RF. Brean Capital initiated coverage on shares of Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating on the stock. Truist Financial reaffirmed a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Morgan Stanley decreased their target price on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Royal Bank Of Canada lifted their price target on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. dropped their price target on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Regions Financial presently has an average rating of “Hold” and a consensus target price of $30.73.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.