Los Angeles Capital Management LLC Sells 877,774 Shares of Regions Financial Corporation $RF

Los Angeles Capital Management LLC lowered its position in shares of Regions Financial Corporation (NYSE:RF) by 32.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,868,775 shares of the bank’s stock after selling 877,774 shares during the period. Los Angeles Capital Management LLC’s holdings in Regions Financial were worth $50,644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Darwin Wealth Management LLC bought a new stake in Regions Financial during the 2nd quarter worth $25,000. Spire Wealth Management lifted its holdings in Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after buying an additional 557 shares during the period. Princeton Global Asset Management LLC lifted its holdings in Regions Financial by 260.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after buying an additional 854 shares during the period. Leonteq Securities AG acquired a new position in Regions Financial during the 4th quarter worth about $33,000. Finally, Murphy Middleton Hinkle & Parker Inc. acquired a new position in Regions Financial during the 4th quarter worth about $35,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. DA Davidson lifted their target price on Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Brean Capital assumed coverage on Regions Financial in a report on Thursday, March 12th. They set a “neutral” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a report on Tuesday, March 3rd. Piper Sandler cut their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. Finally, Truist Financial reaffirmed a “hold” rating and set a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of “Hold” and a consensus target price of $30.47.

Regions Financial Stock Up 0.5%

Shares of NYSE:RF opened at $28.57 on Friday. The company has a market capitalization of $24.38 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50-day moving average is $27.48 and its 200-day moving average is $27.49. Regions Financial Corporation has a 1 year low of $21.40 and a 1 year high of $31.53.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. Equities research analysts predict that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.