KLP Kapitalforvaltning AS Buys New Stake in Regions Financial Co. (NYSE:RF)

KLP Kapitalforvaltning AS bought a new stake in shares of Regions Financial Co. (NYSE:RF) during the fourth quarter, HoldingsChannel reports. The fund bought 309,026 shares of the bank’s stock, valued at approximately $7,334,000.

Several other hedge funds also recently bought and sold shares of RF. Y.D. More Investments Ltd lifted its position in shares of Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after acquiring an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new position in Regions Financial in the 4th quarter valued at about $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 purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Regions Financial during the fourth quarter worth about $32,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Regions Financial during the third quarter worth about $37,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders bought 3,993 shares of company stock worth $89,682. 0.29% of the stock is currently owned by company insiders.

Regions Financial Stock Up 2.8 %

Shares of NYSE RF opened at $22.33 on Tuesday. The stock has a fifty day moving average price of $23.44 and a 200 day moving average price of $23.95. The company has a market cap of $20.21 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 12-month low of $17.72 and a 12-month 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.

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

Regions Financial Announces Dividend

The company also recently announced 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 of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. Regions Financial’s payout ratio is currently 51.55%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RF. The Goldman Sachs Group raised their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup lowered their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday. 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 note on Tuesday, December 3rd. 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 research note on Monday, December 9th. Finally, Truist Financial dropped their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and a consensus target price of $27.28.

Regions Financial 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.