Corebridge Financial Inc. Has $5.06 Million Position in Regions Financial Co. (NYSE:RF)

Corebridge Financial Inc. trimmed its position in Regions Financial Co. (NYSE:RF) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,272 shares of the bank’s stock after selling 11,971 shares during the period. Corebridge Financial Inc.’s holdings in Regions Financial were worth $5,063,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA grew its holdings in shares of Regions Financial by 26.5% in the 3rd quarter. Private Trust Co. NA now owns 6,309 shares of the bank’s stock valued at $147,000 after buying an additional 1,321 shares during the period. FMR LLC increased its holdings in shares of Regions Financial by 8.4% in the third quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock worth $72,548,000 after acquiring an additional 241,838 shares in the last quarter. CreativeOne Wealth LLC raised its position in shares of Regions Financial by 4.0% during the third quarter. CreativeOne Wealth LLC now owns 36,973 shares of the bank’s stock worth $863,000 after purchasing an additional 1,425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Regions Financial by 3.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 492,066 shares of the bank’s stock valued at $11,480,000 after purchasing an additional 15,882 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in Regions Financial by 2.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 159,607 shares of the bank’s stock worth $3,724,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares of the company’s stock, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have bought 3,993 shares of company stock valued at $89,682. 0.29% of the stock is owned by insiders.

Regions Financial Stock Performance

RF opened at $21.42 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The business has a 50 day moving average of $23.25 and a 200-day moving average of $23.93.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. On average, equities research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio is presently 51.55%.

Analysts Set New Price Targets

RF has been the subject of several research analyst reports. Barclays upped their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Compass Point increased their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company cut 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. Citigroup dropped their target price on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Truist Financial reduced their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven 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 $27.17.

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.