Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in Regions Financial Corporation $RF

Key Points

• Mitsubishi UFJ Trust & Banking Corp decreased its stake by 35.5%, selling 209,091 shares in the fourth quarter and now holds 379,500 shares of Regions Financial valued at about $10.28 million.
• Regions declared a quarterly dividend of $0.265 (annualized $1.06) for a ~3.8% yield, with an ex-dividend date of June 1 and payment on July 1; the payout ratio is about 44.17%.
• In the latest quarter Regions posted $0.62 EPS (beating estimates by $0.01) on $1.87 billion revenue (slightly below estimates), the company has a $24.36 billion market cap and a consensus analyst rating of "Hold" with a $30.12 price target.

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,500 shares of the bank's stock after selling 209,091 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Regions Financial were worth $10,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial during the 2nd quarter valued at approximately $25,000. United Community Bank purchased a new position in shares of Regions Financial during the 3rd quarter valued at approximately $30,000. Salomon & Ludwin LLC purchased a new position in shares of Regions Financial during the 3rd quarter valued at approximately $32,000. Spire Wealth Management raised its stake in Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock valued at $32,000 after purchasing an additional 557 shares during the last quarter. Finally, Princeton Global Asset Management LLC raised its stake in Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock valued at $32,000 after purchasing an additional 854 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Down 1.2%

NYSE RF opened at $28.21 on Friday. The business has a fifty day moving average price of $27.13 and a 200 day moving average price of $26.94. Regions Financial Corporation has a one year low of $20.55 and a one year high of $31.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $24.36 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.11 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st. Regions Financial's payout ratio is currently 44.17%.

Analyst Upgrades and Downgrades

Several research firms recently commented on RF. Evercore downgraded Regions Financial from an "in-line" rating to an "underperform" rating and increased their price objective for the company from $27.00 to $29.00 in a research note on Tuesday, January 6th. Barclays increased their price objective on Regions Financial from $27.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, January 5th. DA Davidson increased their price objective on Regions Financial from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Piper Sandler reduced their price objective on Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a research note on Monday, March 30th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, January 6th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $30.12.

Regions Financial Profile

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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