Sei Investments Co. Acquires 43,737 Shares of Regions Financial Co. (NYSE:RF)

Sei Investments Co. grew its stake in shares of Regions Financial Co. (NYSE:RF) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 678,633 shares of the bank’s stock after purchasing an additional 43,737 shares during the period. Sei Investments Co.’s holdings in Regions Financial were worth $15,962,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its position in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after buying an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Regions Financial by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after acquiring an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Regions Financial by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after purchasing an additional 112,885 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Regions Financial by 8.4% in the third quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock valued at $72,548,000 after purchasing an additional 241,838 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RF has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday. Truist Financial dropped their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Compass Point lifted their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.17.

Regions Financial Stock Down 2.3 %

RF opened at $21.42 on Friday. The company has a 50 day moving average of $23.25 and a 200 day moving average of $23.92. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a market cap of $19.39 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19.

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

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.67%. Regions Financial’s dividend payout ratio is currently 51.55%.

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the company’s stock in a transaction that occurred on 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 completion of the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This 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 through this link. Over the last 90 days, insiders bought 3,993 shares of company stock valued at $89,682. Corporate insiders own 0.29% of the company’s stock.

Regions Financial 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.