Sumitomo Mitsui DS Asset Management Company Ltd Sells 57,107 Shares of Regions Financial Corporation $RF

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Regions Financial Corporation (NYSE:RF) by 35.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 103,926 shares of the bank’s stock after selling 57,107 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Regions Financial were worth $2,741,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in shares of Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after acquiring an additional 1,278 shares during the period. Woodline Partners LP raised its stake in Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after purchasing an additional 22,216 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Regions Financial by 23.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,731 shares of the bank’s stock valued at $146,000 after purchasing an additional 1,294 shares during the period. Strs Ohio acquired a new stake in Regions Financial in the 1st quarter worth $6,716,000. Finally, Inspire Investing LLC grew its position in Regions Financial by 32.4% in the 1st quarter. Inspire Investing LLC now owns 14,529 shares of the bank’s stock worth $316,000 after purchasing an additional 3,553 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Regions Financial from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Regions Financial in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Truist Financial upped their target price on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Finally, Stephens reiterated an “equal weight” rating and set a $27.00 price target (down previously from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.93.

Regions Financial Trading Down 0.9%

Shares of RF opened at $28.27 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a market cap of $24.79 billion, a PE ratio of 12.45, a PEG ratio of 1.02 and a beta of 1.03. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $29.25. The stock has a 50 day simple moving average of $26.41 and a 200-day simple moving average of $25.88.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The business had revenue of $1.81 billion for the quarter. On average, sell-side analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a dividend of $0.265 per share. The ex-dividend date was Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. Regions Financial’s dividend payout ratio (DPR) is 46.70%.

Regions Financial announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Regions Financial 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.