Fisher Asset Management LLC Reduces Position in Regions Financial Co. (NYSE:RF)

Fisher Asset Management LLC decreased its holdings in shares of Regions Financial Co. (NYSE:RF) by 40.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,335 shares of the bank’s stock after selling 910 shares during the quarter. Fisher Asset Management LLC’s holdings in Regions Financial were worth $26,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RF. FMR LLC grew its holdings in shares of Regions Financial by 0.3% in the third quarter. FMR LLC now owns 2,625,990 shares of the bank’s stock valued at $45,167,000 after purchasing an additional 8,274 shares during the period. LPL Financial LLC grew its holdings in shares of Regions Financial by 19.6% in the third quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock valued at $10,019,000 after purchasing an additional 95,271 shares during the period. Mariner LLC lifted its position in Regions Financial by 9.2% in the third quarter. Mariner LLC now owns 83,906 shares of the bank’s stock valued at $1,443,000 after buying an additional 7,057 shares during the last quarter. Stifel Financial Corp lifted its position in Regions Financial by 1.2% in the third quarter. Stifel Financial Corp now owns 261,347 shares of the bank’s stock valued at $4,495,000 after buying an additional 3,212 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Regions Financial by 4.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 322,894 shares of the bank’s stock valued at $5,554,000 after buying an additional 13,736 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 other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $18.88 on Thursday. The firm has a market capitalization of $17.29 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.08 and a beta of 1.19. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $19.26 and its two-hundred day moving average is $19.14.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. Research analysts forecast that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.08%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RF shares. Keefe, Bruyette & Woods upped their target price on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Truist Financial decreased their target price on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Evercore ISI reduced their price target on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and a consensus price target of $20.28.

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.