18,623 Shares in Regions Financial Co. (NYSE:RF) Acquired by AXQ Capital LP

AXQ Capital LP bought a new position in shares of Regions Financial Co. (NYSE:RF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,623 shares of the bank's stock, valued at approximately $438,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. boosted its holdings in Regions Financial by 20.0% in the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank's stock valued at $35,445,000 after purchasing an additional 253,708 shares during the last quarter. LBP AM SA increased its position in Regions Financial by 149.4% in the fourth quarter. LBP AM SA now owns 730,614 shares of the bank's stock worth $17,184,000 after buying an additional 437,691 shares during the period. Aigen Investment Management LP bought a new position in shares of Regions Financial during the fourth quarter worth about $1,965,000. Aprio Wealth Management LLC acquired a new stake in shares of Regions Financial in the 4th quarter worth about $1,247,000. Finally, Nordea Investment Management AB lifted its position in Regions Financial by 60.4% in 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. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Down 1.4 %

RF traded down $0.31 during trading on Thursday, reaching $21.93. The company had a trading volume of 5,411,051 shares, compared to its average volume of 7,470,508. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The firm's 50-day simple moving average is $23.35 and its 200 day simple moving average is $23.94. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84.

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Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. Regions Financial's dividend payout ratio is 51.55%.

Insider Activity at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the firm's stock in a transaction 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 purchase, the director now directly owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have acquired 3,993 shares of company stock valued at $89,682. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on RF shares. Morgan Stanley restated an "equal weight" rating and issued a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Piper Sandler raised their target price on Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Compass Point boosted their price target on Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Citigroup reduced their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $27.28.

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.