Securian Asset Management Inc. Sells 1,767 Shares of Regions Financial Co. (NYSE:RF)

Securian Asset Management Inc. trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,846 shares of the bank’s stock after selling 1,767 shares during the quarter. Securian Asset Management Inc.’s holdings in Regions Financial were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP lifted its holdings in shares of Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after buying an additional 394 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Regions Financial by 2.5% during the 4th quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after buying an additional 420 shares during the period. Prossimo Advisors LLC lifted its holdings in shares of Regions Financial by 2.3% during the 4th quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock valued at $453,000 after buying an additional 430 shares during the period. Greenleaf Trust lifted its holdings in shares of Regions Financial by 1.8% during the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock valued at $573,000 after buying an additional 436 shares during the period. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Regions Financial by 2.3% during the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after buying an additional 436 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Up 2.9 %

Shares of RF stock opened at $21.45 on Friday. The firm has a market capitalization of $19.42 billion, a PE ratio of 11.05, a PEG ratio of 1.93 and a beta of 1.19. The stock has a fifty day simple moving average of $23.67 and a two-hundred day simple moving average of $23.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. On average, analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.66%. Regions Financial’s payout ratio is 51.55%.

Insider Activity

In other news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 4,523 shares of company stock worth $102,269 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RF. Citigroup lowered their price target on Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays raised their target price on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Truist Financial raised their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. The Goldman Sachs Group raised their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler raised their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.56.

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.