Prudential PLC Sells 62,243 Shares of Regions Financial Corporation $RF

Key Points

• Prudential PLC reduced its stake in Regions Financial by 21.5% in the fourth quarter, selling 62,243 shares and leaving it with 227,477 shares worth about $6.17 million.
• Regions Financial reported Q1 earnings of $0.62 per share, slightly ahead of estimates, while revenue came in below expectations at $1.87 billion. Revenue still rose 5% year over year.
• The bank declared a quarterly dividend of $0.265 per share, equal to an annualized yield of 3.7%, while analysts currently have a consensus Hold rating with an average price target of $30.47.

Prudential PLC lowered its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 21.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,477 shares of the bank's stock after selling 62,243 shares during the period. Prudential PLC's holdings in Regions Financial were worth $6,165,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vise Technologies Inc. boosted its stake in Regions Financial by 76.2% during the fourth quarter. Vise Technologies Inc. now owns 32,081 shares of the bank's stock worth $869,000 after acquiring an additional 13,872 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Regions Financial by 2.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 148,457 shares of the bank's stock worth $4,023,000 after acquiring an additional 2,859 shares in the last quarter. State of Wyoming bought a new stake in Regions Financial during the fourth quarter worth about $439,000. TD Asset Management Inc boosted its stake in Regions Financial by 6.5% during the fourth quarter. TD Asset Management Inc now owns 560,213 shares of the bank's stock worth $15,182,000 after acquiring an additional 34,159 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in Regions Financial by 5.3% during the fourth quarter. Cibc World Market Inc. now owns 117,008 shares of the bank's stock worth $3,171,000 after acquiring an additional 5,873 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Regions Financial Trading Up 0.5%

Shares of NYSE RF opened at $28.57 on Friday. The firm's 50 day moving average price is $27.48 and its 200-day moving average price is $27.49. The company has a market cap of $24.38 billion, a PE ratio of 11.91, a P/E/G ratio of 1.11 and a beta of 1.00. Regions Financial Corporation has a 52-week low of $21.40 and a 52-week 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.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, equities research analysts expect that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial's dividend payout ratio is currently 44.17%.

Analysts Set New Price Targets

RF has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, March 30th. Truist Financial reissued a "hold" rating and set a $30.00 price objective on shares of Regions Financial in a research note on Tuesday, April 21st. DA Davidson boosted their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Royal Bank Of Canada boosted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $30.47.

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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.