Novem Group Invests $338,000 in Regions Financial Co. (NYSE:RF)

Novem Group bought a new position in shares of Regions Financial Co. (NYSE:RF - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,361 shares of the bank's stock, valued at approximately $338,000.

Several other hedge funds have also recently modified their holdings of RF. Y.D. More Investments Ltd lifted its position in shares of Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC bought a new position in Regions Financial in the 4th quarter valued at $28,000. Picton Mahoney Asset Management grew its stake in Regions Financial by 2,354.9% in 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 Regions Financial in the 4th quarter valued at $32,000. Finally, Creative Capital Management Investments LLC bought a new position in Regions Financial in the 4th quarter valued at $44,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of RF opened at $21.37 on Friday. The stock has a 50-day moving average price of $20.75 and a 200-day moving average price of $23.17. The company has a market cap of $19.21 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates 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 firm earned $0.37 EPS. As a group, equities analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is currently 48.08%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group lowered their price objective 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. Cowen assumed coverage on Regions Financial in a report on Wednesday, May 14th. They set a "buy" rating for the company. Keefe, Bruyette & Woods reduced their price objective on Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Stephens reduced their price objective 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, TD Cowen assumed coverage on Regions Financial in a report on Thursday, May 15th. They set a "buy" rating and a $31.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.80.

Insiders Place Their Bets

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The shares were acquired 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 approximately $370,353.48. The trade was a 15.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company's stock.

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.

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