Regions Financial Corporation $RF Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc trimmed its stake in Regions Financial by 0.7% in the fourth quarter, selling 41,053 shares and leaving it with 5,764,898 shares valued at about $156.2 million.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $30.47; recent target changes ranged from upgrades to cuts across major firms like RBC, Morgan Stanley, DA Davidson, Piper Sandler, and UBS.
• Regions Financial reported solid quarterly results and a dividend, beating EPS estimates at $0.62 per share, and it announced a quarterly dividend of $0.265 per share, implying a 3.8% annualized yield.

Legal & General Group Plc decreased its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,764,898 shares of the bank's stock after selling 41,053 shares during the period. Legal & General Group Plc owned about 0.66% of Regions Financial worth $156,229,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Darwin Wealth Management LLC bought a new position in shares of Regions Financial during the second quarter worth about $25,000. United Community Bank bought a new position in shares of Regions Financial during the third quarter worth about $30,000. Spire Wealth Management lifted its position in shares of Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock worth $32,000 after purchasing an additional 557 shares during the last quarter. Princeton Global Asset Management LLC lifted its position in shares of Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock worth $32,000 after purchasing an additional 854 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Regions Financial during the fourth quarter worth about $33,000. Institutional investors own 79.39% of the company's stock.

Analyst Ratings Changes

RF has been the topic of several research analyst reports. Royal Bank Of Canada increased their price target on shares of Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Morgan Stanley reduced their price target on shares of Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. DA Davidson increased their price target on shares of Regions Financial from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Piper Sandler reduced their price target on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, March 30th. Finally, UBS Group reaffirmed a "neutral" rating and set a $30.00 price target on shares of Regions Financial in a research report on Wednesday, February 4th. 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 company's stock. According to MarketBeat, Regions Financial currently has an average rating of "Hold" and an average price target of $30.47.

Regions Financial Stock Performance

Shares of NYSE RF opened at $28.08 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average price is $27.13 and its two-hundred day moving average price is $27.37. Regions Financial Corporation has a 52-week low of $20.79 and a 52-week high of $31.53. The stock has a market capitalization of $23.96 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.10 and a beta of 1.02.

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 analysts' consensus estimates of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter last year, the company posted $0.54 earnings per share. Regions Financial's revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.8%. Regions Financial's dividend payout ratio (DPR) is currently 44.17%.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the firm's stock in a transaction dated 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 legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by corporate insiders.

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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