United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Regions Financial Co. (NYSE:RF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 31,500 shares of the bank's stock, valued at approximately $741,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised 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 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 valued at $686,398,000 after acquiring an additional 1,396,647 shares in the last quarter. Geode Capital Management LLC boosted its stake in Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank's stock valued at $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank's stock worth $203,273,000 after purchasing an additional 112,885 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Regions Financial by 8.4% during the third quarter. FMR LLC now owns 3,109,633 shares of the bank's stock valued at $72,548,000 after buying an additional 241,838 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The shares were bought 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 owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have bought 3,993 shares of company stock worth $89,682. Corporate insiders own 0.29% of the company's stock.
Regions Financial Price Performance
RF traded down $0.52 on Friday, hitting $21.42. 5,096,899 shares of the company's stock traded hands, compared to its average volume of 7,797,532. Regions Financial Co. has a one year low of $17.72 and a one year 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 firm has a market cap of $19.39 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19. The company's 50 day simple moving average is $23.25 and its 200-day simple moving average is $23.93.
Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm 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 company's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.
Regions Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. Regions Financial's payout ratio is 51.55%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on RF. Wells Fargo & Company lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday. Morgan Stanley restated an "equal weight" rating and issued a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Citigroup decreased 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. Barclays raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. Finally, Piper Sandler upped their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.17.
Read Our Latest Report on Regions Financial
Regions Financial Company Profile
(
Free Report)
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.
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