Symmetry Partners LLC Sells 66,126 Shares of Regions Financial Co. (NYSE:RF)

Symmetry Partners LLC decreased its holdings in Regions Financial Co. (NYSE:RF) by 81.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,630 shares of the bank’s stock after selling 66,126 shares during the period. Symmetry Partners LLC’s holdings in Regions Financial were worth $308,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Regions Financial during the fourth quarter worth approximately $210,379,000. Wellington Management Group LLP increased its position in shares of Regions Financial by 8.4% during the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after acquiring an additional 4,160,768 shares during the period. Vanguard Group Inc. increased its position in shares of Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares during the period. Invesco Ltd. increased its position in shares of Regions Financial by 15.1% during the third quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock worth $190,682,000 after acquiring an additional 1,455,499 shares during the period. Finally, Northern Trust Corp boosted its stake in Regions Financial by 13.4% in the third quarter. Northern Trust Corp now owns 10,761,543 shares of the bank’s stock valued at $185,099,000 after acquiring an additional 1,268,045 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF traded up $0.10 on Tuesday, reaching $19.00. The stock had a trading volume of 3,634,091 shares, compared to its average volume of 8,060,897. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $19.32 and its two-hundred day moving average price is $19.07. The company has a market cap of $17.40 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 2.04 and a beta of 1.19.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 5.05%. Regions Financial’s payout ratio is 52.17%.

Analyst Upgrades and Downgrades

RF has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Morgan Stanley lowered their target price on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. Finally, Truist Financial lowered their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.34.

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

About Regions Financial

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.