Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,498,333 shares of the bank's stock after acquiring an additional 211,222 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Regions Financial worth $35,391,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in RF. State Street Corp raised its stake in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank's stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares during the period. National Bank of Canada FI increased its holdings in Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank's stock valued at $39,784,000 after purchasing an additional 1,452,956 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the period. Raymond James Financial Inc. acquired a new position in Regions Financial during the fourth quarter worth $31,480,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Regions Financial by 247.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank's stock valued at $40,891,000 after buying an additional 1,237,538 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 3,868 shares of company stock valued at $86,722 over the last quarter. Company insiders own 0.29% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Wells Fargo & Company lowered their target price on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. Compass Point raised their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Piper Sandler upped their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Barclays raised their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Regions Financial presently has an average rating of "Moderate Buy" and a consensus target price of $27.17.
Read Our Latest Stock Report on RF
Regions Financial Stock Up 1.7 %
Shares of NYSE:RF traded up $0.37 during trading on Wednesday, hitting $21.94. 4,816,571 shares of the company were exchanged, compared to its average volume of 8,574,473. The firm's 50 day moving average price is $23.13 and its 200-day moving average price is $23.94. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $19.87 billion, a P/E ratio of 11.31, a PEG ratio of 1.93 and a beta of 1.19.
Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. Regions Financial's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. On average, research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.
Regions Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.25 per share. 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 4.56%. Regions Financial's dividend payout ratio is presently 51.55%.
About Regions Financial
(
Free Report)
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.
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