Regions Financial Co. (NYSE:RF) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its holdings in Regions Financial Co. (NYSE:RF) by 35.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,432,296 shares of the bank’s stock after selling 777,552 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.16% of Regions Financial worth $33,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Y.D. More Investments Ltd increased its holdings in Regions Financial by 122.9% during the 4th 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 during the period. Sierra Ocean LLC acquired a new stake in Regions Financial in the fourth quarter valued at approximately $28,000. Picton Mahoney Asset Management lifted its stake in Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Regions Financial during the 4th quarter worth approximately $32,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of Regions Financial in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $19.26 on Friday. The business has a 50 day simple moving average of $21.59 and a 200-day simple moving average of $23.55. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $17.44 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same quarter last year, the business earned $0.37 EPS. Equities analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Monday, June 2nd. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Analyst Ratings Changes

A number of brokerages recently commented on RF. JPMorgan Chase & Co. lowered their target price on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Citigroup lowered their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 24th. Truist Financial cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company dropped their target price on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, Morgan Stanley decreased their price objective on shares of Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.42.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 3,343 shares of company stock valued at $74,348 in the last three months. 0.29% of the stock is currently owned by company insiders.

Regions Financial 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.