Pinebridge Investments L.P. Buys 265,732 Shares of Regions Financial Co. (NYSE:RF)

Pinebridge Investments L.P. lifted its stake in shares of Regions Financial Co. (NYSE:RF - Free Report) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 929,986 shares of the bank's stock after purchasing an additional 265,732 shares during the quarter. Pinebridge Investments L.P. owned about 0.10% of Regions Financial worth $21,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Ballentine Partners LLC lifted its holdings in Regions Financial by 2.5% in the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank's stock worth $411,000 after purchasing an additional 420 shares during the period. Prossimo Advisors LLC increased its stake in shares of Regions Financial by 2.3% during the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank's stock valued at $453,000 after acquiring an additional 430 shares during the period. Greenleaf Trust raised its holdings in Regions Financial by 1.8% during the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank's stock worth $573,000 after purchasing an additional 436 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in Regions Financial by 2.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank's stock worth $456,000 after purchasing an additional 436 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its stake in Regions Financial by 0.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 70,822 shares of the bank's stock valued at $1,666,000 after purchasing an additional 529 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Insiders Place Their Bets

In other news, Director Joia M. Johnson purchased 2,300 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company's stock.

Regions Financial Stock Up 0.8 %

RF traded up $0.16 during trading on Monday, reaching $20.44. 5,150,978 shares of the stock traded hands, compared to its average volume of 8,095,717. The stock's 50-day simple moving average is $21.16 and its two-hundred day simple moving average is $23.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period in the previous year, the company earned $0.37 EPS. As a group, equities research analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio is presently 48.08%.

Analyst Ratings Changes

Several research analysts recently weighed in on RF shares. Barclays decreased their target price on Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods lowered their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Citigroup cut their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Wells Fargo & Company decreased their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Finally, Stephens cut their price objective on Regions Financial from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of "Moderate Buy" and an average target price of $25.53.

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.