T. Rowe Price Investment Management Inc. Decreases Stock Holdings in Regions Financial Co. (NYSE:RF)

T. Rowe Price Investment Management Inc. lowered its position in Regions Financial Co. (NYSE:RF - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,652,820 shares of the bank's stock after selling 167,440 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.18% of Regions Financial worth $38,875,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. World Investment Advisors LLC increased its position in Regions Financial by 14.5% during the third quarter. World Investment Advisors LLC now owns 15,837 shares of the bank's stock worth $369,000 after buying an additional 2,010 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Regions Financial in the 3rd quarter valued at approximately $56,000. Tidal Investments LLC lifted its position in shares of Regions Financial by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 127,326 shares of the bank's stock valued at $2,971,000 after acquiring an additional 2,531 shares during the period. Synovus Financial Corp lifted its holdings in Regions Financial by 55.9% during the third quarter. Synovus Financial Corp now owns 375,572 shares of the bank's stock valued at $8,762,000 after purchasing an additional 134,615 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Regions Financial by 30.9% during the third quarter. Franklin Resources Inc. now owns 702,627 shares of the bank's stock valued at $16,758,000 after acquiring an additional 165,710 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup cut their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Morgan Stanley lowered their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Wells Fargo & Company cut their target price on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Truist Financial dropped their target price on Regions Financial from $24.00 to $21.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays reduced their target price on Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Regions Financial has a consensus rating of "Moderate Buy" and a consensus price target of $25.53.

Regions Financial Trading Up 2.4 %

Shares of Regions Financial stock traded up $0.48 on Friday, reaching $20.99. The company had a trading volume of 1,964,316 shares, compared to its average volume of 8,071,539. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $19.01 billion, a PE ratio of 10.82, a PEG ratio of 1.93 and a beta of 1.01. The firm's 50 day moving average price is $20.89 and its two-hundred day moving average price is $23.38. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96.

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

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.76%. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 17,486 shares of the company's stock, valued at $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

Regions Financial 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.