Allstate Corp Acquires Shares of 27,266 Regions Financial Co. (NYSE:RF)

Allstate Corp bought a new position in Regions Financial Co. (NYSE:RF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,266 shares of the bank's stock, valued at approximately $641,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RF. Y.D. More Investments Ltd boosted its position in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock valued at $27,000 after buying an additional 634 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Regions Financial during the 4th quarter valued at about $28,000. Picton Mahoney Asset Management grew its stake in shares of Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after acquiring an additional 1,201 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Regions Financial during the fourth quarter valued at approximately $32,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Regions Financial during the third quarter valued at approximately $37,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Down 4.9 %

NYSE RF traded down $0.97 during trading on Friday, reaching $18.64. 14,885,113 shares of the company's stock traded hands, compared to its average volume of 7,869,422. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The company's 50 day simple moving average is $23.00 and its two-hundred day simple moving average is $23.90. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

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Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. As a group, sell-side analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Monday, March 3rd. Regions Financial's payout ratio is 51.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RF shares. Truist Financial decreased their target price on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday. Morgan Stanley reaffirmed an "equal weight" rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Finally, Citigroup dropped their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.95.

Insider Buying and Selling

In other news, Director Joia M. Johnson acquired 2,300 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost 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 $370,353.48. This represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have bought 3,868 shares of company stock worth $86,722. 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.