American Century Companies Inc. Sells 114,617 Shares of Regions Financial Co. (NYSE:RF)

American Century Companies Inc. reduced its position in shares of Regions Financial Co. (NYSE:RF) by 4.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,651,058 shares of the bank’s stock after selling 114,617 shares during the period. American Century Companies Inc.’s holdings in Regions Financial were worth $62,353,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its holdings in shares of Regions Financial by 9.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 79,453 shares of the bank’s stock valued at $1,855,000 after acquiring an additional 6,665 shares in the last quarter. Cerity Partners LLC raised its position in Regions Financial by 9.7% in the third quarter. Cerity Partners LLC now owns 483,032 shares of the bank’s stock valued at $11,269,000 after purchasing an additional 42,520 shares during the last quarter. Centaurus Financial Inc. boosted its stake in shares of Regions Financial by 5.9% during the third quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock valued at $228,000 after purchasing an additional 540 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Regions Financial by 11.1% during the third quarter. Daiwa Securities Group Inc. now owns 111,293 shares of the bank’s stock worth $2,596,000 after purchasing an additional 11,087 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Regions Financial by 3.2% in the third quarter. Independent Advisor Alliance now owns 42,381 shares of the bank’s stock valued at $989,000 after buying an additional 1,315 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the business’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 purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought a total of 3,993 shares of company stock valued at $89,682 over the last 90 days. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

RF has been the topic of a number of research reports. Barclays boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Truist Financial reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Piper Sandler increased their price target on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Compass Point raised their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.28.

Regions Financial Stock Performance

Shares of RF opened at $22.44 on Wednesday. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The company has a market cap of $20.32 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The stock has a 50-day moving average price of $23.40 and a 200-day moving average price of $23.96.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. Regions Financial’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, equities analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.46%. Regions Financial’s dividend payout ratio is presently 51.55%.

Regions Financial Company Profile

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.