Mitsubishi UFJ Trust & Banking Corp Acquires 419,930 Shares of Regions Financial Co. (NYSE:RF)

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 57.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,153,937 shares of the bank's stock after purchasing an additional 419,930 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.13% of Regions Financial worth $27,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RF. State Street Corp boosted its holdings in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank's stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $686,398,000 after buying an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank's stock worth $526,118,000 after acquiring an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Regions Financial by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank's stock valued at $203,273,000 after acquiring an additional 112,885 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Regions Financial by 8.4% during the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank's stock valued at $72,548,000 after acquiring an additional 241,838 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Morgan Stanley reaffirmed an "equal weight" rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Barclays lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. Truist Financial decreased their price target on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a report on Friday, March 21st. Finally, Citigroup dropped their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.17.

Regions Financial Price Performance

Shares of RF stock traded up $0.35 during mid-day trading on Monday, reaching $21.77. The company's stock had a trading volume of 9,062,206 shares, compared to its average volume of 7,802,571. The firm's 50-day moving average is $23.20 and its two-hundred day moving average is $23.95. The company has a market cap of $19.71 billion, a P/E ratio of 11.22, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84.

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 the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.59%. The ex-dividend date is Monday, March 3rd. Regions Financial's dividend payout ratio is 51.55%.

Insider Buying and Selling at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 3,868 shares of company stock worth $86,722 over the last three months. Company insiders own 0.29% of the company's stock.

Regions Financial Company 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.