Synovus Financial Corp Sells 144,861 Shares of Regions Financial Co. (NYSE:RF)

Synovus Financial Corp lowered its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 38.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,711 shares of the bank's stock after selling 144,861 shares during the period. Synovus Financial Corp's holdings in Regions Financial were worth $5,427,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RF. Y.D. More Investments Ltd grew its holdings in Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Regions Financial in the fourth quarter worth approximately $28,000. Picton Mahoney Asset Management increased its position in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock valued at $29,000 after purchasing an additional 1,201 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Regions Financial in the fourth quarter valued at $32,000. Finally, Creative Capital Management Investments LLC bought a new position in Regions Financial during the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

Shares of NYSE RF traded up $0.09 during trading on Friday, reaching $19.26. The company had a trading volume of 18,651,917 shares, compared to its average volume of 8,175,445. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The business's 50 day moving average price is $21.59 and its 200-day moving average price is $23.55. The stock has a market cap of $17.44 billion, a PE ratio of 9.93, a PEG ratio of 1.93 and a beta of 1.01. 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 (NYSE:RF - Get Free Report) last issued its 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 company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company posted $0.37 EPS. 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid 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 5.19%. Regions Financial's dividend payout ratio (DPR) is presently 51.55%.

Analyst Ratings Changes

A number of research firms have issued reports on RF. JPMorgan Chase & Co. cut their target price on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley decreased their price objective on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Barclays boosted their price target on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Truist Financial lowered their price objective on Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Finally, Wells Fargo & Company lowered their price target on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.42.

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares of the company's stock, valued at $370,353.48. This represents a 15.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 3,343 shares of company stock worth $74,348 in the last ninety days. Company 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.