Massachusetts Financial Services Co. MA Sells 356,594 Shares of Regions Financial Co. (NYSE:RF)

by · The Markets Daily

Massachusetts Financial Services Co. MA cut its stake in Regions Financial Co. (NYSE:RF – Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,869,759 shares of the bank’s stock after selling 356,594 shares during the period. Massachusetts Financial Services Co. MA owned 0.87% of Regions Financial worth $185,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of RF. Y.D. More Investments Ltd boosted its holdings in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new position in Regions Financial during the 4th quarter valued at about $28,000. Picton Mahoney Asset Management boosted its stake in shares of Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Regions Financial during the 4th quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Regions Financial during the third quarter worth approximately $37,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Down 10.8 %

RF stock opened at $19.65 on Friday. The business has a 50-day moving average of $23.00 and a 200-day moving average of $23.90. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The stock has a market capitalization of $17.79 billion, a P/E ratio of 10.13, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF – Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) 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 the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 5.09%. Regions Financial’s payout ratio is presently 51.55%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. JPMorgan Chase & Co. cut their target price on Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday. Compass Point boosted their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Barclays upped their price target on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial presently has an average rating of “Moderate Buy” and an average target price of $26.95.

Get Our Latest Report on RF

Insider Buying and Selling at Regions Financial

In other news, Director Joia M. Johnson acquired 2,300 shares of the firm’s 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 transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 3,868 shares of company stock worth $86,722 over the last ninety days. 0.29% of the stock is currently owned by corporate insiders.

Regions Financial Profile

(Free Report)

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.

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