Rafferty Asset Management LLC Sells 249,074 Shares of Regions Financial Co. (NYSE:RF)

Rafferty Asset Management LLC reduced its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,373,423 shares of the bank's stock after selling 249,074 shares during the quarter. Rafferty Asset Management LLC owned 0.15% of Regions Financial worth $32,303,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Ballentine Partners LLC grew its holdings in shares of Regions Financial by 2.5% during the 4th quarter. Ballentine Partners LLC now owns 17,458 shares of the bank's stock valued at $411,000 after purchasing an additional 420 shares during the last quarter. Prossimo Advisors LLC grew its stake in shares of Regions Financial by 2.3% during the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank's stock worth $453,000 after buying an additional 430 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Regions Financial by 1.8% during the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank's stock worth $573,000 after buying an additional 436 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Regions Financial by 2.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank's stock valued at $456,000 after acquiring an additional 436 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of Regions Financial by 0.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 70,822 shares of the bank's stock valued at $1,666,000 after acquiring an additional 529 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RF shares. Barclays reduced their price objective on Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Cowen assumed coverage on Regions Financial in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Morgan Stanley lowered their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. TD Cowen started coverage on shares of Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 target price on the stock. Finally, Truist Financial reduced their target price on shares of Regions Financial from $24.00 to $21.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.80.

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Regions Financial Trading Down 1.3%

Shares of RF stock traded down $0.30 during trading hours on Tuesday, hitting $22.24. 4,874,199 shares of the company were exchanged, compared to its average volume of 8,100,519. The company has a 50 day simple moving average of $20.72 and a two-hundred day simple moving average of $23.20. The firm has a market cap of $19.99 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period in the previous year, the company posted $0.37 EPS. Equities analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio is currently 48.08%.

Regions Financial Company Profile

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.