Marshall Wace LLP Buys 657,222 Shares of Regions Financial Co. (NYSE:RF)

Marshall Wace LLP raised its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 1,862.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 692,502 shares of the bank's stock after acquiring an additional 657,222 shares during the quarter. Marshall Wace LLP owned about 0.08% of Regions Financial worth $16,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in RF. LBP AM SA increased its holdings in Regions Financial by 149.4% during the 4th quarter. LBP AM SA now owns 730,614 shares of the bank's stock worth $17,184,000 after acquiring an additional 437,691 shares during the period. Aigen Investment Management LP bought a new position in Regions Financial in the 4th quarter worth about $1,965,000. Aprio Wealth Management LLC purchased a new stake in shares of Regions Financial in the 4th quarter valued at about $1,247,000. Nordea Investment Management AB increased its position in shares of Regions Financial by 60.4% in the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank's stock worth $6,220,000 after purchasing an additional 99,115 shares during the last quarter. Finally, Vest Financial LLC raised its stake in Regions Financial by 20.4% in the fourth quarter. Vest Financial LLC now owns 1,479,865 shares of the bank's stock valued at $34,806,000 after purchasing an additional 250,729 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 1.3 %

RF stock traded down $0.26 during trading on Friday, hitting $20.28. 6,572,572 shares of the stock traded hands, compared to its average volume of 8,096,097. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The firm's 50 day moving average is $21.16 and its two-hundred day moving average is $23.46.

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 the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $0.37 earnings per share. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.93%. Regions Financial's dividend payout ratio is presently 48.08%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RF. Truist Financial lowered their target price on Regions Financial from $24.00 to $21.00 and set a "hold" rating for the company in a research note on Tuesday. Stephens cut their target price on shares of Regions Financial from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Morgan Stanley lowered their price target on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods cut their price target on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, Barclays lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Regions Financial presently has an average rating of "Moderate Buy" and an average price target of $25.53.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the company's stock in a transaction that occurred on 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 acquisition, the director now owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

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.