Regions Financial Co. (NYSE:RF) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,690 shares of the bank’s stock after selling 1,215 shares during the period. Pitcairn Co.’s holdings in Regions Financial were worth $322,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Y.D. More Investments Ltd increased its position in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new position in Regions Financial during the fourth quarter worth $28,000. Picton Mahoney Asset Management grew its holdings in Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after buying an additional 1,201 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Regions Financial in the 4th quarter worth $32,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Regions Financial during the 3rd quarter worth $37,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity

In related news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have acquired 3,868 shares of company stock worth $86,722. 0.29% of the stock is owned by corporate insiders.

Regions Financial Price Performance

NYSE RF opened at $18.64 on Monday. The company has a 50 day simple moving average of $22.88 and a 200-day simple moving average of $23.89. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

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

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 5.36%. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RF shares. Wells Fargo & Company cut their target price on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Truist Financial reduced their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Barclays lifted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Finally, Citigroup lowered their target price on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.95.

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.