8,708 Shares in Regions Financial Co. (NYSE:RF) Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new stake in Regions Financial Co. (NYSE:RF) during the fourth quarter, HoldingsChannel.com reports. The fund bought 8,708 shares of the bank’s stock, valued at approximately $205,000.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after acquiring an additional 315,605 shares during the period. Allspring Global Investments Holdings LLC boosted its position 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 acquiring an additional 112,885 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Regions Financial by 8.4% in the third quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock worth $72,548,000 after acquiring an additional 241,838 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have purchased 3,993 shares of company stock valued at $89,682. Insiders own 0.29% of the company’s stock.

Regions Financial Trading Down 2.3 %

NYSE:RF opened at $21.42 on Friday. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a one year low of $17.72 and a one year 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 business’s 50-day simple moving average is $23.25 and its 200 day simple moving average is $23.93.

Regions Financial (NYSE:RF) last announced 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 company 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%. Regions Financial’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. As a group, sell-side analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RF. Wells Fargo & Company cut their price target on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday. Piper Sandler lifted their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial dropped their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, March 21st. 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. Finally, Compass Point raised their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.17.

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.