Ethic Inc. Decreases Stake in Regions Financial Co. (NYSE:RF)

Ethic Inc. cut its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,208 shares of the bank's stock after selling 18,816 shares during the period. Ethic Inc.'s holdings in Regions Financial were worth $3,909,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RF. Wilmington Savings Fund Society FSB bought a new stake in shares of Regions Financial in the 3rd quarter worth about $56,000. Franklin Resources Inc. grew its holdings in Regions Financial by 30.9% during the 3rd quarter. Franklin Resources Inc. now owns 702,627 shares of the bank's stock valued at $16,758,000 after purchasing an additional 165,710 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Regions Financial by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,087,697 shares of the bank's stock valued at $25,376,000 after purchasing an additional 34,125 shares during the last quarter. Czech National Bank grew its holdings in Regions Financial by 5.7% during the 4th quarter. Czech National Bank now owns 197,060 shares of the bank's stock valued at $4,635,000 after purchasing an additional 10,640 shares during the last quarter. Finally, Aprio Wealth Management LLC bought a new position in Regions Financial during the 4th quarter valued at about $1,247,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

RF stock traded up $0.22 during midday trading on Tuesday, hitting $22.47. 6,510,975 shares of the stock traded hands, compared to its average volume of 8,101,351. The firm has a market cap of $20.20 billion, a P/E ratio of 11.58, a PEG ratio of 1.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock's fifty day simple moving average is $20.63 and its 200-day simple moving average is $23.25. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96.

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

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RF. Keefe, Bruyette & Woods dropped their target price on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Barclays lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Citigroup lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company decreased their target price on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Finally, Truist Financial decreased their target price on shares of Regions Financial from $24.00 to $21.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.53.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson acquired 2,300 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, with a total value 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 trade represents a 15.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company's stock.

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.