Prudential Financial Inc. Has $12.78 Million Position in Regions Financial Co. (NYSE:RF)

Prudential Financial Inc. lessened its position in Regions Financial Co. (NYSE:RF) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 543,135 shares of the bank’s stock after selling 75,904 shares during the quarter. Prudential Financial Inc. owned approximately 0.06% of Regions Financial worth $12,775,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Stevens Capital Management LP lifted its position in shares of Regions Financial by 49.6% in the fourth quarter. Stevens Capital Management LP now owns 15,548 shares of the bank’s stock worth $366,000 after purchasing an additional 5,154 shares in the last quarter. LPL Financial LLC lifted its position in Regions Financial by 4.0% during the 4th quarter. LPL Financial LLC now owns 939,376 shares of the bank’s stock worth $22,094,000 after buying an additional 36,438 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Regions Financial in the 4th quarter valued at about $7,334,000. AXQ Capital LP acquired a new stake in shares of Regions Financial in the fourth quarter valued at about $438,000. Finally, Intellus Advisors LLC bought a new stake in Regions Financial during the fourth quarter worth about $353,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $21.93 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 capitalization of $19.86 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The company has a 50-day simple moving average of $23.30 and a two-hundred day simple moving average of $23.93.

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

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is presently 51.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Barclays boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Compass Point increased their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Truist Financial lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Finally, Piper Sandler raised their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.28.

Insider Transactions at Regions Financial

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the 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 acquisition, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders bought 3,993 shares of company stock valued at $89,682. 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.