Regions Financial Corporation $RF Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its stake in Regions Financial by 35.5% in the first quarter, selling 38,282 shares and leaving it with 69,446 shares worth about $1.81 million.
• Regions Financial reported better-than-expected quarterly EPS of $0.62, though revenue of $1.87 billion came in slightly below estimates. The company also projected full-year EPS of 2.6.
• The bank declared a quarterly dividend of $0.265 per share, equal to an annualized yield of 3.6%, while analysts currently rate the stock a consensus Hold with an average price target of $30.73.

BI Asset Management Fondsmaeglerselskab A S reduced its position in Regions Financial Corporation (NYSE:RF - Free Report) by 35.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,446 shares of the bank's stock after selling 38,282 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Regions Financial were worth $1,814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in Regions Financial by 85.9% during the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank's stock valued at $121,976,000 after purchasing an additional 2,137,062 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank's stock valued at $61,135,000 after purchasing an additional 1,600,926 shares during the period. Schroder Investment Management Group raised its holdings in shares of Regions Financial by 11.2% during the third quarter. Schroder Investment Management Group now owns 1,732,045 shares of the bank's stock valued at $45,899,000 after buying an additional 173,871 shares during the last quarter. Barclays PLC raised its holdings in shares of Regions Financial by 12.4% during the third quarter. Barclays PLC now owns 6,254,555 shares of the bank's stock valued at $164,933,000 after buying an additional 689,313 shares during the last quarter. Finally, Interval Partners LP boosted its position in shares of Regions Financial by 30.5% during the third quarter. Interval Partners LP now owns 786,307 shares of the bank's stock worth $20,735,000 after buying an additional 183,694 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of NYSE RF opened at $29.35 on Wednesday. Regions Financial Corporation has a 1 year low of $22.69 and a 1 year high of $31.53. The firm has a market cap of $25.05 billion, a P/E ratio of 12.23, a PEG ratio of 1.09 and a beta of 1.00. The stock has a fifty day moving average price of $28.04 and a two-hundred day moving average price of $27.83. 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 posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.6%. Regions Financial's dividend payout ratio is currently 44.17%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RF. JPMorgan Chase & Co. decreased their price objective on Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Morgan Stanley cut their target price on Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Cantor Fitzgerald reiterated an "overweight" rating and set a $32.00 price target on shares of Regions Financial in a research report on Tuesday, March 3rd. Piper Sandler decreased their price target 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, Royal Bank Of Canada raised their price target on Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.73.

Insider Activity

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

Regions Financial Company 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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