Brooklyn FI LLC Purchases New Shares in Regions Financial Co. (NYSE:RF)

Brooklyn FI LLC purchased a new stake in shares of Regions Financial Co. (NYSE:RF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,632 shares of the bank’s stock, valued at approximately $337,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. grew its position in Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after buying an additional 253,708 shares during the period. LBP AM SA grew its position in Regions Financial by 149.4% during the fourth quarter. LBP AM SA now owns 730,614 shares of the bank’s stock valued at $17,184,000 after buying an additional 437,691 shares during the period. Aigen Investment Management LP acquired a new stake in Regions Financial during the fourth quarter valued at $1,965,000. Aprio Wealth Management LLC acquired a new stake in Regions Financial during the fourth quarter valued at $1,247,000. Finally, Nordea Investment Management AB grew its position in Regions Financial by 60.4% during the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock valued at $6,220,000 after buying an additional 99,115 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

RF has been the topic of several research analyst reports. Citigroup dropped their target price on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Barclays lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Truist Financial lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Piper Sandler lifted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group lifted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Insiders Place Their Bets

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction on 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 acquisition, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 4,523 shares of company stock worth $102,269 in the last ninety days. 0.29% of the stock is owned by corporate insiders.

Regions Financial Stock Performance

Shares of RF stock opened at $21.77 on Thursday. The firm’s 50 day moving average price is $23.53 and its 200-day moving average price is $23.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The firm has a market cap of $19.71 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.59%. Regions Financial’s dividend payout ratio is currently 51.55%.

Regions Financial Company 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.