Regions Financial Co. (NYSE:RF) Stock Position Reduced by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lessened its position in shares of Regions Financial Co. (NYSE:RF) by 78.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,757 shares of the bank’s stock after selling 10,172 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Regions Financial were worth $53,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Dark Forest Capital Management LP bought a new position in Regions Financial during the 1st quarter worth approximately $26,000. Sound Income Strategies LLC lifted its holdings in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Regions Financial in the 3rd quarter worth approximately $26,000. Harbour Investments Inc. boosted its position in Regions Financial by 715.1% during the 4th quarter. Harbour Investments Inc. now owns 1,891 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,659 shares during the period. Finally, HM Payson & Co. boosted its position in Regions Financial by 2,000.0% during the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 0.5 %

RF opened at $18.91 on Friday. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s fifty day moving average is $19.32 and its 200-day moving average is $17.99. The company has a market capitalization of $17.38 billion, a PE ratio of 9.05, a P/E/G ratio of 1.36 and a beta of 1.21.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm posted $0.62 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts predict that Regions Financial Co. will post 1.98 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Monday, June 3rd. Regions Financial’s dividend payout ratio is presently 45.93%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RF. Truist Financial boosted their price objective on Regions Financial from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Morgan Stanley boosted their price objective on Regions Financial from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $22.00 in a research report on Tuesday, January 9th. Stephens restated an “equal weight” rating and set a $21.00 price objective on shares of Regions Financial in a research report on Tuesday, January 23rd. Finally, Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $20.39.

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.