The Manufacturers Life Insurance Company Sells 25,869 Shares of Regions Financial Co. (NYSE:RF)

The Manufacturers Life Insurance Company lessened its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,056,544 shares of the bank's stock after selling 25,869 shares during the quarter. The Manufacturers Life Insurance Company owned 0.23% of Regions Financial worth $48,370,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado grew its stake in shares of Regions Financial by 771.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 775,742 shares of the bank's stock worth $18,245,000 after purchasing an additional 686,733 shares during the last quarter. Prosperity Consulting Group LLC lifted its stake in shares of Regions Financial by 2.2% in the fourth quarter. Prosperity Consulting Group LLC now owns 32,541 shares of the bank's stock worth $765,000 after acquiring an additional 700 shares during the period. Aquatic Capital Management LLC bought a new stake in Regions Financial in the fourth quarter valued at approximately $4,980,000. Oxford Asset Management LLP acquired a new stake in Regions Financial during the 4th quarter valued at approximately $335,000. Finally, Virtus ETF Advisers LLC raised its holdings in Regions Financial by 22.9% during the 4th quarter. Virtus ETF Advisers LLC now owns 47,826 shares of the bank's stock worth $1,125,000 after purchasing an additional 8,925 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RF. 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 research report on Monday, April 7th. Citigroup reduced their price objective 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. Barclays decreased 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 note on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Stephens cut their price target on Regions Financial from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.53.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.54 during trading hours on Friday, reaching $21.05. The company had a trading volume of 5,370,244 shares, compared to its average volume of 8,113,107. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The firm has a market cap of $19.06 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The business has a fifty day simple moving average of $20.84 and a 200 day simple moving average of $23.36.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.84 billion. During the same period last year, the business earned $0.37 earnings per share. On average, analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.75%. Regions Financial's dividend payout ratio is currently 48.08%.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought 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 approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.29% of the company's stock.

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.