Point72 Hong Kong Ltd Acquires New Holdings in Regions Financial Co. (NYSE:RF)

Point72 Hong Kong Ltd bought a new stake in Regions Financial Co. (NYSE:RF - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 61,146 shares of the bank's stock, valued at approximately $1,438,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Regions Financial during the 4th quarter worth $279,103,000. Invesco Ltd. lifted its stake in shares of Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after purchasing an additional 1,963,954 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Regions Financial by 52.7% in the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after buying an additional 1,907,121 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after buying an additional 1,396,647 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Regions Financial in the fourth quarter valued at about $31,480,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods reduced their price target on Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. The Goldman Sachs Group reduced their target price 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. Truist Financial lowered their price target on shares of Regions Financial from $24.00 to $21.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, TD Cowen assumed coverage on shares of Regions Financial in a report on Thursday. They issued a "buy" rating and a $31.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.80.

Regions Financial Stock Down 0.2%

NYSE RF traded down $0.05 on Monday, hitting $22.54. 5,162,224 shares of the stock traded hands, compared to its average volume of 8,113,422. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $20.69 and a 200 day moving average of $23.21. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The company has a market capitalization of $20.26 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97.

Regions Financial (NYSE:RF - Get Free Report) last issued 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. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business earned $0.37 EPS. As a group, analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.44%. Regions Financial's dividend payout ratio (DPR) is 48.08%.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson purchased 2,300 shares of the company's stock in a transaction dated 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 transaction, the director now owns 17,486 shares of the company's stock, valued at $370,353.48. This trade represents a 15.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.