Mitsubishi UFJ Asset Management Co. Ltd. Acquires 211,222 Shares of Regions Financial Co. (NYSE:RF)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Regions Financial Co. (NYSE:RF) by 16.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,498,333 shares of the bank’s stock after purchasing an additional 211,222 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Regions Financial were worth $35,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Quarry LP boosted its position in shares of Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after acquiring an additional 394 shares during the period. Ballentine Partners LLC lifted its stake in Regions Financial by 2.5% in the 4th quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock worth $411,000 after purchasing an additional 420 shares in the last quarter. Prossimo Advisors LLC boosted its holdings in Regions Financial by 2.3% in the 4th quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock valued at $453,000 after purchasing an additional 430 shares during the period. Greenleaf Trust boosted its holdings in Regions Financial by 1.8% in the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock valued at $573,000 after purchasing an additional 436 shares during the period. Finally, Lake Street Advisors Group LLC grew its position in shares of Regions Financial by 2.3% during the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after purchasing an additional 436 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RF. Compass Point lifted their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays boosted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Wells Fargo & Company lowered their target price 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. Piper Sandler boosted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.17.

Regions Financial Stock Performance

Shares of RF stock opened at $21.42 on Friday. The company has a market capitalization of $19.39 billion, a P/E ratio of 11.04, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50 day moving average price of $23.25 and a two-hundred day moving average price of $23.93.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.67%. Regions Financial’s dividend payout ratio is presently 51.55%.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the acquisition, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 3,993 shares of company stock valued at $89,682 in the last 90 days. 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.