Regions Financial Co. (NYSE:RF) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,882 shares of the bank’s stock after selling 3,810 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Regions Financial were worth $2,561,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after purchasing an additional 1,452,956 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Regions Financial by 247.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock valued at $40,891,000 after purchasing an additional 1,237,538 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after buying an additional 816,226 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Regions Financial during the 3rd quarter worth approximately $17,589,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.7 %

Shares of Regions Financial stock opened at $22.10 on Friday. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The company has a market cap of $20.01 billion, a P/E ratio of 11.39, a PEG ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a fifty day moving average of $23.90 and a two-hundred day moving average of $24.03.

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

Regions Financial Dividend Announcement

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

Analyst Ratings Changes

A number of research firms recently issued reports on RF. Citigroup lifted their target price on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Morgan Stanley reissued an “equal weight” rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Wells Fargo & Company upped their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Compass Point lifted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Truist Financial increased their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and an average target price of $27.67.

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.