KLP Kapitalforvaltning AS Buys New Stake in Regions Financial Co. (NYSE:RF)

KLP Kapitalforvaltning AS purchased a new position in Regions Financial Co. (NYSE:RF - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 309,026 shares of the bank's stock, valued at approximately $7,334,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. 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 worth $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Regions Financial during the 4th quarter valued at about $28,000. Picton Mahoney Asset Management grew its position in shares of Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock valued at $29,000 after purchasing an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Regions Financial during the fourth quarter valued at about $32,000. Finally, Truvestments Capital LLC bought a new stake in shares of Regions Financial in the third quarter worth about $37,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RF shares. Wells Fargo & Company cut their price target on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday. Compass Point raised their target price on shares of Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Barclays boosted their price target 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. Truist Financial lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Finally, Morgan Stanley restated an "equal weight" rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.17.

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Regions Financial Trading Down 2.3 %

Shares of NYSE RF traded down $0.52 during trading hours on Friday, reaching $21.42. The stock had a trading volume of 5,096,899 shares, compared to its average volume of 7,797,531. The business's fifty day moving average price is $23.25 and its two-hundred day moving average price is $23.92. The firm has a market cap of $19.39 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. 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 (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. Analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial's dividend payout ratio (DPR) is 51.55%.

Insider Activity

In related news, Director Joia M. Johnson purchased 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now owns 17,486 shares of the company's stock, valued at $370,353.48. The trade was a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 3,993 shares of company stock worth $89,682. 0.29% of the stock is currently owned by corporate insiders.

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.