Mizuho Securities USA LLC Increases Position in Regions Financial Co. (NYSE:RF)

Mizuho Securities USA LLC grew its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 45.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,140 shares of the bank's stock after buying an additional 26,799 shares during the period. Mizuho Securities USA LLC's holdings in Regions Financial were worth $2,026,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RF. State Street Corp grew its holdings in shares of Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank's stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. National Bank of Canada FI grew its position 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 worth $39,784,000 after purchasing an additional 1,452,956 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Regions Financial by 5.0% in the 4th 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. Raymond James Financial Inc. purchased a new position in shares of Regions Financial in the fourth quarter worth about $31,480,000. Finally, Allianz Asset Management GmbH boosted its position 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 acquiring an additional 1,237,538 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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Regions Financial Stock Down 2.3 %

Shares of NYSE:RF traded down $0.52 during trading on Friday, hitting $21.42. 5,096,899 shares of the company's stock traded hands, compared to its average volume of 7,797,531. 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. The company has a 50-day moving average price of $23.30 and a 200-day moving average price of $23.93. The company has a market cap of $19.39 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19.

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

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 is 51.55%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson bought 2,300 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price 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 of the company's stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 3,993 shares of company stock worth $89,682 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Regions Financial 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.