Handelsbanken Fonder AB Sells 176,920 Shares of Regions Financial Co. (NYSE:RF)

Handelsbanken Fonder AB decreased its position in shares of Regions Financial Co. (NYSE:RF) by 42.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,363 shares of the bank’s stock after selling 176,920 shares during the quarter. Handelsbanken Fonder AB’s holdings in Regions Financial were worth $4,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RF. Wellington Management Group LLP increased its holdings in shares of Regions Financial by 8.4% during the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after acquiring an additional 4,160,768 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in shares of Regions Financial by 162.1% during the third quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock valued at $101,559,000 after buying an additional 3,651,390 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Regions Financial by 2.7% during the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock valued at $1,970,871,000 after buying an additional 2,982,310 shares during the last quarter. Invesco Ltd. boosted its position in shares of Regions Financial by 15.1% during the third quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock valued at $190,682,000 after buying an additional 1,455,499 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Regions Financial by 13.4% during the third quarter. Northern Trust Corp now owns 10,761,543 shares of the bank’s stock valued at $185,099,000 after buying an additional 1,268,045 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE:RF opened at $19.61 on Friday. 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 Co. has a 52-week low of $13.72 and a 52-week high of $21.08. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.45 and a beta of 1.21. The business’s fifty day moving average is $19.41 and its 200 day moving average is $18.07.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. Research analysts predict that Regions Financial Co. will post 1.95 EPS for the current year.

Regions Financial Announces Dividend

The firm 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 $0.24 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 4.90%. Regions Financial’s dividend payout ratio is currently 52.17%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RF. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Barclays reissued an “underweight” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Morgan Stanley cut their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Truist Financial cut their price objective on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $20.17.

Insiders Place Their Bets

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were acquired at an average cost 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 through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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.