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Sumitomo Mitsui Trust Holdings Inc. has a $51.38 million stake in Regions Financial Co. (NYSE:RF)


Sumitomo Mitsui Trust Holdings Inc. has acquired its interest in the shares of Regions Financial Co. (NYSE:RF – Free Report) fell 6.1% in the fourth quarter, Holdings Channel reports. The fund owned 2,651,140 shares of the bank, after selling 171,438 shares during the quarter. The interests of Sumitomo Mitsui Trust Holdings Inc. in Regions Financial were worth $51,379,000 at the time of the most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased 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 valued at $1,970,871,000 after purchasing an additional 2,982,310 shares during the period. Wellington Management Group LLP increased its stake in 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 purchasing an additional 4,160,768 shares during the period. State Street Corp increased its holdings in Regions Financial by 0.4% in the first quarter. State Street Corp now owns 50,312,924 shares of the bank’s stock worth $943,529,000 after acquiring an additional 189,323 shares in the last quarter. Morgan Stanley increased its stake in Regions Financial by 16.1% in the fourth quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock valued at $435,275,000 after acquiring an additional 2,802,291 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Regions Financial shares by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank, valued at $346,922,000, after acquiring an additional 618,384 shares in the last quarter. 79.39% of the shares are held by institutional investors.

Regions Financial Price Performance

RF stock opened at $19.00 on Friday. The company’s fifty-day moving average is $19.30 and its 200-day moving average is $17.97. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $21.08. The company has a market cap of $17.46 billion, a price-to-earnings ratio of 9.09, a price-to-earnings ratio of 1.36, and a beta of 1.21. 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 (NYSE:RF – Get Free Report) last reported its earnings results on Friday, January 19. The bank reported earnings per share of $0.39 for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter of the previous year, the company earned earnings per share of $0.67. Regions Financial’s revenue fell 9.5% compared to the same quarter last year. Research analysts predict that Regions Financial Co. will post earnings per share of 1.98 for the current year.

Regions Financial announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1. Shareholders of record on Monday, June 3 will receive a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 3. This represents a dividend of $0.96 annually and a yield of 5.05%. Regions Financial’s dividend payout ratio currently stands at 45.93%.

Changes in analyst ratings

A number of brokers have recently released reports on RF. Argus downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Morgan Stanley lifted their price objective on shares of Regions Financial from $21.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, January 30. StockNews.com downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6. Truist Financial raised their price target on shares of Regions Financial from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, April 1. Finally, Evercore ISI raised their price objective on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.39.

Check out our latest report on RF

Financial profile of the regions

(Free report)

Regions Financial Corporation, a financial holding company, provides banking and banking-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank and Wealth Management. The Corporate Bank segment provides commercial banking services such as commercial and industrial real estate, commercial real estate and real estate lending to investors; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, mergers and acquisitions, and other advisory services.

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Would you like to see which other hedge funds own RF? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Regions Financial Co. (NYSE:RF – Free Report).

Quarterly Institutional Ownership for Financial Regions (NYSE:RF)



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