Pinebridge Investments LLC Invests $23.19 Million in Regions Financial Corporation $RF

Key Points

• Pinebridge Investments LLC opened a new position in Regions Financial during the fourth quarter, buying 855,852 shares valued at about $23.19 million.
• Regions Financial reported Q1 EPS of $0.62, slightly ahead of analyst expectations, while revenue came in below estimates at $1.87 billion even as revenue rose 5% year over year.
• The bank declared a quarterly dividend of $0.265 per share, equal to an annualized yield of about 3.7%; meanwhile, analyst sentiment remains mixed with an average rating of Hold.

Pinebridge Investments LLC bought a new position in Regions Financial Corporation (NYSE:RF - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 855,852 shares of the bank's stock, valued at approximately $23,194,000. Pinebridge Investments LLC owned 0.10% of Regions Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd acquired a new stake in shares of Regions Financial in the fourth quarter valued at about $5,636,000. Parallel Advisors LLC lifted its stake in shares of Regions Financial by 11.3% in the fourth quarter. Parallel Advisors LLC now owns 9,511 shares of the bank's stock valued at $258,000 after purchasing an additional 966 shares during the period. Vise Technologies Inc. lifted its stake in shares of Regions Financial by 76.2% in the fourth quarter. Vise Technologies Inc. now owns 32,081 shares of the bank's stock valued at $869,000 after purchasing an additional 13,872 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Regions Financial by 2.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 148,457 shares of the bank's stock valued at $4,023,000 after purchasing an additional 2,859 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Regions Financial in the fourth quarter valued at about $439,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of RF opened at $28.57 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a market cap of $24.38 billion, a P/E ratio of 11.91, a PEG ratio of 1.11 and a beta of 1.00. The company has a 50-day moving average of $27.48 and a two-hundred day moving average of $27.49. Regions Financial Corporation has a 12-month low of $21.40 and a 12-month high of $31.53.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. As a group, research analysts predict that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.265 per share. The ex-dividend date is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. Regions Financial's payout ratio is presently 44.17%.

Analyst Upgrades and Downgrades

RF has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada raised their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Brean Capital initiated coverage on shares of Regions Financial in a research note on Thursday, March 12th. They issued a "neutral" rating for the company. Morgan Stanley reduced their price objective on shares of Regions Financial from $37.00 to $34.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Finally, Piper Sandler reduced their price objective on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a research note on Monday, March 30th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $30.47.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company's stock.

Regions Financial Profile

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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