Prana Capital Management LP Invests $6.32 Million in Regions Financial Co. (NYSE:RF)

Prana Capital Management LP purchased a new stake in Regions Financial Co. (NYSE:RF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 268,882 shares of the bank's stock, valued at approximately $6,324,000.

A number of other hedge funds have also added to or reduced their stakes in RF. Charles Schwab Investment Management Inc. increased its stake in Regions Financial by 5.0% in the 4th 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Regions Financial by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock valued at $540,284,000 after acquiring an additional 403,283 shares during the last quarter. First Trust Advisors LP lifted its holdings in Regions Financial by 7.7% during the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock worth $401,097,000 after acquiring an additional 1,224,645 shares during the period. Invesco Ltd. grew its stake in Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock valued at $363,823,000 after purchasing an additional 1,963,954 shares during the period. Finally, Norges Bank purchased a new stake in shares of Regions Financial during the 4th quarter valued at $279,103,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RF. Cowen initiated coverage on shares of Regions Financial in a research report on Wednesday. They set a "buy" rating for the company. Keefe, Bruyette & Woods reduced their target price on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Barclays lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Stephens decreased their target price on Regions Financial from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.80.

Insider Buying and Selling at Regions Financial

In other news, Director Joia M. Johnson acquired 2,300 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Regions Financial Price Performance

Shares of RF traded down $0.05 during mid-day trading on Monday, reaching $22.54. 5,162,175 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. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a market cap of $20.26 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. The firm has a fifty day moving average price of $20.69 and a 200 day moving average price of $23.21.

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

Regions Financial Announces Dividend

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

Regions Financial Company 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.