Cubist Systematic Strategies LLC Invests $6.56 Million in Regions Financial Co. (NYSE:RF)

Cubist Systematic Strategies LLC purchased a new stake in shares of Regions Financial Co. (NYSE:RF - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 278,749 shares of the bank's stock, valued at approximately $6,556,000.

Several other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers grew its position in Regions Financial by 6.8% during the 4th quarter. Cetera Investment Advisers now owns 292,379 shares of the bank's stock worth $6,877,000 after purchasing an additional 18,489 shares during the last quarter. Centiva Capital LP acquired a new stake in Regions Financial during the 4th quarter valued at approximately $2,551,000. Captrust Financial Advisors raised its holdings in shares of Regions Financial by 14.0% during the fourth quarter. Captrust Financial Advisors now owns 123,728 shares of the bank's stock worth $2,910,000 after purchasing an additional 15,156 shares during the period. Black Maple Capital Management LP bought a new position in shares of Regions Financial during the fourth quarter worth about $2,070,000. Finally, Bearing Point Capital LLC acquired a new position in Regions Financial during the 4th quarter worth $588,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RF shares. Truist Financial cut their price objective on Regions Financial from $24.00 to $21.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods decreased their price target on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Stephens dropped their target price on Regions Financial from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, The Goldman Sachs Group reduced their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.53.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Regions Financial Stock Performance

Shares of RF stock traded up $1.07 on Monday, reaching $22.23. The stock had a trading volume of 9,459,489 shares, compared to its average volume of 8,098,303. The firm has a market capitalization of $19.98 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.93 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The firm's 50-day moving average is $20.62 and its two-hundred day moving average is $23.26.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same quarter in the prior year, the business posted $0.37 earnings per share. On average, research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

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.