Quantbot Technologies LP Takes $7.34 Million Position in Regions Financial Co. (NYSE:RF)

Quantbot Technologies LP purchased a new position in Regions Financial Co. (NYSE:RF) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 312,090 shares of the bank’s stock, valued at approximately $7,340,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the period. National Bank of Canada FI lifted its stake in Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 valued at $686,398,000 after buying an additional 1,396,647 shares during the period. Raymond James Financial Inc. bought a new position in shares of Regions Financial during the fourth quarter valued at approximately $31,480,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Regions Financial by 247.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank’s stock worth $40,891,000 after buying an additional 1,237,538 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RF shares. Compass Point boosted their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler upped their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Citigroup reduced their target price on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, The Goldman Sachs Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.44.

Regions Financial Stock Down 0.0 %

NYSE:RF opened at $21.68 on Friday. The company’s 50-day simple moving average is $23.46 and its 200-day simple moving average is $23.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The stock has a market capitalization of $19.63 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.93 and a beta of 1.19.

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

Regions Financial Announces Dividend

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

Insiders Place Their Bets

In related news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired 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 owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 3,993 shares of company stock valued at $89,682. 0.29% of the stock is currently owned by corporate insiders.

Regions Financial Company 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.