Korea Investment CORP Sells 11,956 Shares of Regions Financial Co. (NYSE:RF)

Korea Investment CORP trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 577,053 shares of the bank’s stock after selling 11,956 shares during the quarter. Korea Investment CORP’s holdings in Regions Financial were worth $13,572,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Regions Financial in the 4th quarter valued at $741,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Regions Financial by 57.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,153,937 shares of the bank’s stock valued at $27,141,000 after buying an additional 419,930 shares during the period. Modern Wealth Management LLC bought a new stake in Regions Financial during the fourth quarter valued at $201,000. Stevens Capital Management LP grew its position in Regions Financial by 49.6% during the fourth quarter. Stevens Capital Management LP now owns 15,548 shares of the bank’s stock worth $366,000 after buying an additional 5,154 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Regions Financial by 4.0% in the 4th quarter. LPL Financial LLC now owns 939,376 shares of the bank’s stock worth $22,094,000 after acquiring an additional 36,438 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at approximately $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 is available at the SEC website. In the last three months, insiders have acquired 3,868 shares of company stock worth $86,722. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

RF has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday. Barclays boosted their price target 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. Truist Financial lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Citigroup cut their target price 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. Finally, Piper Sandler raised their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.17.

Regions Financial Stock Down 2.3 %

Shares of NYSE RF opened at $21.42 on Monday. The firm’s fifty day moving average is $23.25 and its 200 day moving average is $23.95. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The company has a market cap of $19.39 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.93 and a beta of 1.19.

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

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.67%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 51.55%.

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.