Schonfeld Strategic Advisors LLC Buys 537,799 Shares of Regions Financial Co. (NYSE:RF)

Schonfeld Strategic Advisors LLC increased its position in Regions Financial Co. (NYSE:RF - Free Report) by 186.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 826,098 shares of the bank's stock after purchasing an additional 537,799 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 0.09% of Regions Financial worth $19,430,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Regions Financial in the fourth quarter valued at about $279,103,000. Invesco Ltd. raised its holdings 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 acquiring an additional 1,963,954 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock worth $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Regions Financial during the fourth quarter worth approximately $31,480,000. Finally, Northern Trust Corp boosted its holdings in shares of Regions Financial by 14.8% during the fourth quarter. Northern Trust Corp now owns 9,658,858 shares of the bank's stock worth $227,176,000 after acquiring an additional 1,247,882 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of RF traded up $0.54 during midday trading on Friday, hitting $21.05. The company's stock had a trading volume of 5,370,244 shares, compared to its average volume of 8,097,189. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The stock has a market capitalization of $19.06 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The company's fifty day simple moving average is $20.84 and its two-hundred day simple moving average is $23.36.

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

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be paid 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 4.75%. Regions Financial's payout ratio is presently 48.08%.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays dropped their price target on Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Truist Financial dropped their target price on Regions Financial from $24.00 to $21.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Citigroup dropped their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.53.

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.