Securian Asset Management Inc. Lowers Holdings in Regions Financial Corporation $RF

Securian Asset Management Inc. reduced its stake in shares of Regions Financial Corporation (NYSE:RF) by 44.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,843 shares of the bank’s stock after selling 19,249 shares during the period. Securian Asset Management Inc.’s holdings in Regions Financial were worth $646,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. First Citizens Bank & Trust Co. grew its stake in shares of Regions Financial by 6.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock worth $18,204,000 after purchasing an additional 44,252 shares during the period. iA Global Asset Management Inc. acquired a new position in shares of Regions Financial in the 3rd quarter valued at $1,378,000. Teacher Retirement System of Texas lifted its stake in shares of Regions Financial by 111.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after purchasing an additional 152,987 shares during the period. AGF Management Ltd. purchased a new stake in Regions Financial during the third quarter worth $1,669,000. Finally, American Century Companies Inc. boosted its holdings in Regions Financial by 85.9% during the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock worth $121,976,000 after buying an additional 2,137,062 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE:RF opened at $26.81 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $22.88 billion, a PE ratio of 11.17, a P/E/G ratio of 1.04 and a beta of 1.02. Regions Financial Corporation has a fifty-two week low of $20.79 and a fifty-two week high of $31.53. The company has a fifty day moving average of $26.93 and a two-hundred day moving average of $27.16.

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

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, June 1st. Regions Financial’s payout ratio is presently 44.17%.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RF. Truist Financial reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Regions Financial in a report on Tuesday, April 21st. Royal Bank Of Canada increased their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. DA Davidson raised their target price on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $31.00 price target on shares of Regions Financial in a research note on Tuesday, January 20th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.06.

Regions Financial Company Profile

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.