Resona Asset Management Co. Ltd. Takes Position in Regions Financial Co. (NYSE:RF)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Regions Financial Co. (NYSE:RF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 275,745 shares of the bank's stock, valued at approximately $6,494,000.

Other hedge funds have also recently modified their holdings of the company. LBP AM SA increased its position in Regions Financial by 149.4% during the 4th quarter. LBP AM SA now owns 730,614 shares of the bank's stock valued at $17,184,000 after buying an additional 437,691 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Regions Financial in the 4th quarter worth about $1,965,000. Aprio Wealth Management LLC bought a new position in Regions Financial in the 4th quarter worth about $1,247,000. Nordea Investment Management AB grew its position in Regions Financial by 60.4% during the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank's stock valued at $6,220,000 after purchasing an additional 99,115 shares during the last quarter. Finally, Vest Financial LLC increased its stake in Regions Financial by 20.4% during the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank's stock valued at $34,806,000 after purchasing an additional 250,729 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on RF. Citigroup reduced their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 24th. Barclays lifted their price objective 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 lowered their target price 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. JPMorgan Chase & Co. dropped their price target on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Regions Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.42.

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Insiders Place Their Bets

In related news, Director Joia M. Johnson bought 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired 3,868 shares of company stock valued at $86,722 in the last three months. Corporate insiders own 0.29% of the company's stock.

Regions Financial Price Performance

Shares of Regions Financial stock traded down $0.04 on Friday, hitting $18.96. 13,080,597 shares of the company traded hands, compared to its average volume of 8,102,368. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The business has a 50-day simple moving average of $22.10 and a 200 day simple moving average of $23.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $17.17 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) 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. Research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 5.27%. Regions Financial's dividend payout ratio (DPR) is currently 51.55%.

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.