Cinctive Capital Management LP Has $459,000 Position in Regions Financial Co. (NYSE:RF)

Cinctive Capital Management LP trimmed its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 80.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,500 shares of the bank's stock after selling 78,527 shares during the quarter. Cinctive Capital Management LP's holdings in Regions Financial were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RF. Norges Bank acquired a new stake in Regions Financial during the 4th quarter worth approximately $279,103,000. State Street Corp boosted its holdings in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank's stock valued at $1,306,813,000 after buying an additional 7,791,399 shares during the period. National Bank of Canada FI increased its position in shares of Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank's stock worth $39,784,000 after acquiring an additional 1,452,956 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock worth $686,398,000 after acquiring an additional 1,396,647 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Regions Financial in the 4th quarter valued at $31,480,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Remove Ads

Regions Financial Price Performance

NYSE:RF traded up $1.67 during trading hours on Wednesday, hitting $20.01. The company's stock had a trading volume of 18,914,519 shares, compared to its average volume of 8,043,633. Regions Financial Co. has a twelve month low of $17.72 and a twelve 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 fifty day simple moving average of $22.31 and a 200-day simple moving average of $23.74. The company has a market capitalization of $18.12 billion, a P/E ratio of 10.31, a PEG ratio of 1.93 and a beta of 1.01.

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 for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. On average, analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 5.00%. Regions Financial's dividend payout ratio (DPR) is presently 51.55%.

Insider Activity

In other news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares of the company's stock, valued at $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders bought 3,868 shares of company stock worth $86,722. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RF. Wells Fargo & Company dropped their price target on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Citigroup cut their target price 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. Morgan Stanley lowered their target price on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Compass Point raised their price objective on Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $26.42.

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.