Mitsubishi UFJ Asset Management Co. Ltd. Purchases 211,222 Shares of Regions Financial Co. (NYSE:RF)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Regions Financial Co. (NYSE:RF - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,498,333 shares of the bank's stock after purchasing an additional 211,222 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Regions Financial worth $35,391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Private Trust Co. NA boosted its position in Regions Financial by 26.5% during the 3rd quarter. Private Trust Co. NA now owns 6,309 shares of the bank's stock worth $147,000 after acquiring an additional 1,321 shares during the last quarter. FMR LLC lifted its position in shares of Regions Financial by 8.4% in the third quarter. FMR LLC now owns 3,109,633 shares of the bank's stock worth $72,548,000 after purchasing an additional 241,838 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Regions Financial by 4.0% during the third quarter. CreativeOne Wealth LLC now owns 36,973 shares of the bank's stock worth $863,000 after purchasing an additional 1,425 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Regions Financial by 3.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 492,066 shares of the bank's stock valued at $11,480,000 after purchasing an additional 15,882 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Regions Financial by 2.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 159,607 shares of the bank's stock valued at $3,724,000 after buying an additional 4,500 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RF. Morgan Stanley restated an "equal weight" rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Barclays lifted their price target on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. Compass Point raised their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Truist Financial decreased their price objective on Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Finally, Wells Fargo & Company lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $26.95.

Regions Financial Price Performance

Shares of NYSE RF traded down $1.94 during midday trading on Thursday, reaching $20.08. 2,692,274 shares of the company were exchanged, compared to its average volume of 8,518,260. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The stock has a market cap of $18.18 billion, a P/E ratio of 10.35, a PEG ratio of 1.93 and a beta of 1.19. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock's 50-day moving average price is $23.09 and its 200-day moving average price is $23.93.

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, topping analysts' consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for 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%. Regions Financial's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.98%. Regions Financial's dividend payout ratio (DPR) is presently 51.55%.

Insider Activity at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 3,868 shares of company stock worth $86,722 in the last quarter. 0.29% of the stock is owned by 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.