Amundi Sells 3,665,200 Shares of Regions Financial Co. (NYSE:RF)

Amundi cut its position in shares of Regions Financial Co. (NYSE:RF) by 30.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,313,920 shares of the bank’s stock after selling 3,665,200 shares during the period. Amundi owned about 0.91% of Regions Financial worth $197,652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its stake in shares of Regions Financial by 16.4% in the third quarter. Janney Montgomery Scott LLC now owns 66,925 shares of the bank’s stock valued at $1,561,000 after acquiring an additional 9,407 shares during the last quarter. Van ECK Associates Corp increased its holdings in Regions Financial by 59.0% during the 3rd quarter. Van ECK Associates Corp now owns 37,721 shares of the bank’s stock valued at $891,000 after purchasing an additional 13,999 shares in the last quarter. Principal Financial Group Inc. raised its position in Regions Financial by 3.2% in 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. Equitable Trust Co. boosted its stake in Regions Financial by 2.9% in the third quarter. Equitable Trust Co. now owns 70,180 shares of the bank’s stock worth $1,637,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Regions Financial by 6.8% during the third quarter. Assetmark Inc. now owns 18,637 shares of the bank’s stock worth $435,000 after purchasing an additional 1,184 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 0.7 %

NYSE RF opened at $22.10 on Monday. 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 50-day moving average is $23.90 and its 200-day moving average is $24.06. 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 $20.01 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.53%. Regions Financial’s dividend payout ratio is currently 51.55%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RF shares. Truist Financial lifted their price target on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Citigroup boosted their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Piper Sandler increased their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Compass Point increased their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.67.

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.