275,745 Shares in Regions Financial Co. (NYSE:RF) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in Regions Financial Co. (NYSE:RF) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 275,745 shares of the bank’s stock, valued at approximately $6,494,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Y.D. More Investments Ltd grew its stake in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after purchasing an additional 634 shares during the last quarter. Sierra Ocean LLC bought a new position in Regions Financial in the 4th quarter valued at $28,000. Picton Mahoney Asset Management increased its stake in shares of Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after buying an additional 1,201 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Regions Financial during the fourth quarter worth $32,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Regions Financial during the third quarter valued at $37,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 0.1 %

Regions Financial stock opened at $18.65 on Tuesday. The company has a 50 day moving average of $22.76 and a 200-day moving average of $23.86. 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 Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The stock has a market capitalization of $16.89 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business earned $0.39 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Monday, March 3rd. Regions Financial’s dividend payout ratio is presently 51.55%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the acquisition, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 3,868 shares of company stock worth $86,722. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RF shares. Truist Financial dropped their price objective on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. cut their price objective on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Compass Point lifted their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley cut their price target on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Barclays lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.