Mitsubishi UFJ Trust & Banking Corp Boosts Holdings in Regions Financial Co. (NYSE:RF)

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Regions Financial Co. (NYSE:RF) by 57.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,153,937 shares of the bank’s stock after acquiring an additional 419,930 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Regions Financial were worth $27,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Regions Financial by 1.4% during the third 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 period. Allspring Global Investments Holdings LLC grew its holdings 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 increased its stake in Regions Financial by 8.4% in the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock worth $72,548,000 after buying an additional 241,838 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Activity

In other news, Director Joia M. Johnson bought 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, with a total value 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 $370,353.48. This trade represents a 15.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 3,993 shares of company stock valued at $89,682 over the last ninety days. 0.29% of the stock is currently owned by insiders.

Regions Financial Stock Down 0.8 %

Regions Financial stock opened at $22.24 on Thursday. The business has a fifty day moving average price of $23.35 and a 200-day moving average price of $23.94. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The stock has a market capitalization of $20.13 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its quarterly 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. The business had revenue of $1.82 billion for 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 was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities research analysts forecast that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.50%. Regions Financial’s payout ratio is currently 51.55%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RF shares. Piper Sandler boosted their price objective 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. Compass Point increased their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays lifted their target price on 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 dropped their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Finally, Citigroup decreased their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and an average target price of $27.28.

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.