Royal London Asset Management Ltd. Has $8.34 Million Stock Holdings in Regions Financial Co. (NYSE:RF)

Royal London Asset Management Ltd. grew its stake in shares of Regions Financial Co. (NYSE:RF) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,631 shares of the bank’s stock after purchasing an additional 23,323 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Regions Financial were worth $8,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its holdings in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Regions Financial in the fourth quarter valued at approximately $28,000. Picton Mahoney Asset Management boosted its stake in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares during the period. Truvestments Capital LLC acquired a new position in shares of Regions Financial during the 3rd quarter worth approximately $37,000. Finally, Legacy Investment Solutions LLC bought a new stake in Regions Financial in the 3rd quarter valued at $37,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RF. Citigroup reduced their price objective on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company 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 stock an “underweight” rating in a report on Monday, January 6th. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Compass Point boosted their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Piper Sandler upped their target price 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.44.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson purchased 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The stock was 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 owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 3,993 shares of company stock valued at $89,682. 0.29% of the stock is currently owned by insiders.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $21.68 on Monday. The company has a 50 day moving average of $23.46 and a 200-day moving average of $23.96. The company has a market cap of $19.63 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96.

Regions Financial (NYSE:RF) last issued its 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. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.39 EPS. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

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.