LPL Financial LLC Has $22.09 Million Stock Position in Regions Financial Co. (NYSE:RF)

LPL Financial LLC boosted its stake in shares of Regions Financial Co. (NYSE:RF) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 939,376 shares of the bank’s stock after acquiring an additional 36,438 shares during the quarter. LPL Financial LLC’s holdings in Regions Financial were worth $22,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd raised its position 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 worth $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC bought a new stake in Regions Financial during the 4th quarter worth about $28,000. Picton Mahoney Asset Management lifted its position in Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,201 shares during the period. Millstone Evans Group LLC bought a new position in shares of Regions Financial in the 4th quarter valued at about $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Regions Financial during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity at Regions Financial

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 acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares of the company’s stock, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 3,868 shares of company stock valued at $86,722. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Citigroup reduced their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company dropped their price objective on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday. Piper Sandler raised their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Barclays upped their price target on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.17.

Regions Financial Trading Down 2.3 %

NYSE RF opened at $21.42 on Monday. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The stock’s 50 day moving average price is $23.25 and its two-hundred day moving average price is $23.95. The stock has a market capitalization of $19.39 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS 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 net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, analysts anticipate that Regions Financial Co. will post 2.26 earnings per share 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s payout ratio is 51.55%.

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.