AMF Tjanstepension AB Decreases Holdings in Regions Financial Co. (NYSE:RF)

AMF Tjanstepension AB cut its holdings in shares of Regions Financial Co. (NYSE:RF) by 60.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 301,590 shares of the bank’s stock after selling 462,306 shares during the quarter. AMF Tjanstepension AB’s holdings in Regions Financial were worth $6,359,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RF. FMR LLC raised its stake in shares of Regions Financial by 0.3% during the third quarter. FMR LLC now owns 2,625,990 shares of the bank’s stock worth $45,167,000 after acquiring an additional 8,274 shares in the last quarter. LPL Financial LLC increased its stake 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 worth $10,019,000 after buying an additional 95,271 shares during the period. Mariner LLC increased its stake in shares of Regions Financial by 9.2% in the third quarter. Mariner LLC now owns 83,906 shares of the bank’s stock worth $1,443,000 after buying an additional 7,057 shares during the period. Stifel Financial Corp increased its stake in shares of Regions Financial by 1.2% in the third quarter. Stifel Financial Corp now owns 261,347 shares of the bank’s stock worth $4,495,000 after buying an additional 3,212 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Regions Financial by 4.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 322,894 shares of the bank’s stock worth $5,554,000 after buying an additional 13,736 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Regions Financial

In other Regions Financial news, Director William C. Rhodes III acquired 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the purchase, the director now owns 50,000 shares in the company, valued at approximately $968,500. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RF shares. Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. Piper Sandler lifted their price target on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Finally, Evercore ISI cut 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 report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.28.

Regions Financial Stock Performance

Shares of RF stock opened at $20.04 on Friday. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The company’s 50-day moving average is $19.29 and its 200 day moving average is $19.15. The company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83.

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

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.79%. The ex-dividend date is Monday, June 3rd. Regions Financial’s dividend payout ratio is currently 52.17%.

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.