National Pension Service Decreases Holdings in Regions Financial Co. (NYSE:RF)

National Pension Service trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,549,738 shares of the bank’s stock after selling 172,286 shares during the period. National Pension Service’s holdings in Regions Financial were worth $36,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RF. State Street Corp grew its stake in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after acquiring an additional 1,452,956 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Regions Financial by 247.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock valued at $40,891,000 after acquiring an additional 1,237,538 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after acquiring an additional 816,226 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Regions Financial during the third quarter valued at about $17,589,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RF has been the subject of several recent analyst reports. Barclays raised their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Wells Fargo & Company increased their price target on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Citigroup increased their price target on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. The Goldman Sachs Group increased their price target on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler increased their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.67.

Regions Financial Stock Performance

Shares of NYSE RF opened at $23.71 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 firm’s 50-day moving average price is $24.06 and its two-hundred day moving average price is $24.00. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The stock has a market capitalization of $21.47 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.93 and a beta of 1.20.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. As a group, sell-side analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.22%. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

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.