Woodline Partners LP Takes $1.28 Million Position in Regions Financial Co. (NYSE:RF)

Woodline Partners LP purchased a new position in Regions Financial Co. (NYSE:RF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 54,581 shares of the bank's stock, valued at approximately $1,284,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RF. Merit Financial Group LLC bought a new stake in shares of Regions Financial in the fourth quarter worth $263,000. SG Americas Securities LLC increased its stake in shares of Regions Financial by 195.1% in the fourth quarter. SG Americas Securities LLC now owns 133,514 shares of the bank's stock worth $3,140,000 after buying an additional 88,274 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Regions Financial by 12.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 75,504 shares of the bank's stock worth $1,776,000 after buying an additional 8,579 shares during the last quarter. CX Institutional increased its stake in shares of Regions Financial by 3.5% in the fourth quarter. CX Institutional now owns 17,821 shares of the bank's stock worth $419,000 after buying an additional 599 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Regions Financial by 9.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 124,884 shares of the bank's stock worth $2,937,000 after buying an additional 10,491 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RF shares. TD Cowen started coverage on shares of Regions Financial in a research note on Thursday, May 15th. They issued a "buy" rating and a $31.00 price target for the company. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Jefferies Financial Group assumed coverage on shares of Regions Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective for the company. Citigroup decreased their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, The Goldman Sachs Group decreased their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.80.

Insider Transactions at Regions Financial

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Regions Financial Trading Down 0.6%

Shares of NYSE:RF traded down $0.14 during mid-day trading on Friday, reaching $21.43. The stock had a trading volume of 1,896,218 shares, compared to its average volume of 8,107,650. The firm has a market cap of $19.27 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. The firm has a 50 day simple moving average of $20.71 and a two-hundred day simple moving average of $23.03. 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 Co. has a twelve month low of $17.72 and a twelve month high of $27.96.

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

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio is currently 48.08%.

About Regions Financial

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.