NEOS Investment Management LLC Raises Stock Position in Regions Financial Co. (NYSE:RF)

NEOS Investment Management LLC raised its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 31.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,755 shares of the bank's stock after buying an additional 13,587 shares during the quarter. NEOS Investment Management LLC's holdings in Regions Financial were worth $1,335,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Y.D. More Investments Ltd lifted its position in Regions Financial by 122.9% during the 4th 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 period. Sierra Ocean LLC purchased a new stake in Regions Financial in the fourth quarter valued at approximately $28,000. Picton Mahoney Asset Management increased its holdings in Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after buying an additional 1,201 shares during the period. Millstone Evans Group LLC purchased a new position in Regions Financial during the 4th quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Regions Financial during the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price 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 approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders acquired 3,868 shares of company stock worth $86,722. 0.29% of the stock is currently owned by company insiders.

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Regions Financial Price Performance

RF traded down $1.94 during trading on Thursday, reaching $20.08. The company's stock had a trading volume of 2,692,274 shares, compared to its average volume of 7,790,444. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.93 and a beta of 1.19. The firm has a fifty day simple moving average of $23.09 and a two-hundred day simple moving average of $23.93. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

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

Regions Financial Announces Dividend

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. This represents a $1.00 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date was Monday, March 3rd. Regions Financial's dividend payout ratio is presently 51.55%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RF shares. Wells Fargo & Company decreased their target price on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Morgan Stanley reaffirmed an "equal weight" rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. JPMorgan Chase & Co. decreased their price target on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday. Truist Financial dropped their price objective on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. Finally, Citigroup lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.95.

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.