Regions Financial Co. (NYSE:RF) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its stake in Regions Financial Co. (NYSE:RF) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 41,500 shares of the bank’s stock after selling 1,000 shares during the period. Highland Capital Management LLC’s holdings in Regions Financial were worth $804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Regions Financial by 2.7% during the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock worth $1,970,871,000 after buying an additional 2,982,310 shares during the period. Wellington Management Group LLP boosted its stake 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 buying an additional 4,160,768 shares during the period. State Street Corp boosted its stake in shares of Regions Financial by 0.4% during the first quarter. State Street Corp now owns 50,312,924 shares of the bank’s stock worth $943,529,000 after buying an additional 189,323 shares during the period. Morgan Stanley boosted its stake in shares of Regions Financial by 16.1% during the fourth quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after buying an additional 2,802,291 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after buying an additional 618,384 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RF shares. Truist Financial increased their target price on shares of Regions Financial from $15.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, December 15th. StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Argus cut shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Stephens reissued an “equal weight” rating and set a $21.00 price target on shares of Regions Financial in a report on Tuesday, January 23rd. Finally, Barclays reissued an “underweight” rating and set a $22.00 price target (up from $20.00) on shares of Regions Financial in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.23.

Regions Financial Price Performance

RF stock opened at $20.69 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.02. The firm has a market cap of $19.01 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19. The stock has a 50-day simple moving average of $18.88 and a 200-day simple moving average of $17.71.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 19th. The bank reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. On average, equities analysts predict that Regions Financial Co. will post 1.98 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Thursday, February 29th. Regions Financial’s dividend payout ratio is currently 45.93%.

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.