Comerica Bank Lowers Stake in Regions Financial Co. (NYSE:RF)

Comerica Bank cut its position in Regions Financial Co. (NYSE:RF - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 269,475 shares of the bank's stock after selling 15,053 shares during the period. Comerica Bank's holdings in Regions Financial were worth $6,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd boosted 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 acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Regions Financial during the fourth quarter valued at about $28,000. Picton Mahoney Asset Management increased its holdings in shares of 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 purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Regions Financial in the fourth quarter worth about $32,000. Finally, Creative Capital Management Investments LLC bought a new position in Regions Financial during the fourth quarter valued at approximately $44,000. 79.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Joia M. Johnson bought 2,300 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the acquisition, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stephens cut their target price on shares of Regions Financial from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays dropped their price objective on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Citigroup decreased their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Truist Financial dropped their price target on Regions Financial from $24.00 to $21.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $25.53.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $21.05 on Monday. The firm's 50 day simple moving average is $20.84 and its 200-day simple moving average is $23.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The firm has a market cap of $19.06 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $0.37 EPS. As a group, equities analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.