Sumitomo Mitsui Trust Group Inc. Sells 112,032 Shares of Regions Financial Corporation $RF
by Teresa Graham · The Cerbat GemSumitomo Mitsui Trust Group Inc. decreased its holdings in Regions Financial Corporation (NYSE:RF – Free Report) by 4.5% in the first quarter, Holdings Channel reports. The fund owned 2,388,762 shares of the bank’s stock after selling 112,032 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Regions Financial were worth $62,394,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Norges Bank purchased a new stake in Regions Financial during the fourth quarter valued at approximately $254,564,000. Victory Capital Management Inc. lifted its stake in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Regions Financial by 118.6% in the 4th quarter. First Trust Advisors LP now owns 7,604,482 shares of the bank’s stock valued at $206,081,000 after purchasing an additional 4,125,776 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after purchasing an additional 2,980,505 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after purchasing an additional 2,371,048 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.
Regions Financial Trading Up 1.5%
Shares of NYSE:RF traded up $0.46 during trading hours on Friday, hitting $31.04. 12,462,847 shares of the company’s stock traded hands, compared to its average volume of 9,682,642. The firm has a market capitalization of $26.49 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The business has a fifty day moving average price of $28.61 and a 200-day moving average price of $28.11. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $31.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.
Regions Financial (NYSE:RF – Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts expect that Regions Financial Corporation will post 2.6 earnings per share for the current year.
Regions Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, June 1st. Regions Financial’s dividend payout ratio is 44.17%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on RF. Robert W. Baird restated an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a report on Monday, July 6th. DA Davidson downgraded Regions Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $35.00 to $33.00 in a research report on Monday, July 6th. UBS Group lifted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Morgan Stanley boosted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Evercore reissued an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.16.
Insider Buying and Selling
In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company 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.
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