Dynamic Technology Lab Private Ltd Purchases Shares of 94,599 Regions Financial Co. (NYSE:RF)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Regions Financial Co. (NYSE:RF) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 94,599 shares of the bank’s stock, valued at approximately $2,225,000. Regions Financial comprises 0.4% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 20th largest position.

Other hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd raised its position in shares of Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after acquiring an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Regions Financial in the fourth quarter valued at $28,000. Picton Mahoney Asset Management boosted its stake in Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Regions Financial during the fourth quarter worth about $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Regions Financial during the third quarter worth about $37,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial 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 completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 3,868 shares of company stock worth $86,722 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RF shares. Barclays raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday. Truist Financial dropped their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Citigroup reduced their price objective on 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, Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.95.

Regions Financial Stock Performance

Shares of RF opened at $18.64 on Friday. 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 52-week low of $17.72 and a 52-week high of $27.96. The company has a 50-day simple moving average of $22.88 and a 200-day simple moving average of $23.87. The company has a market capitalization of $16.88 billion, a PE ratio of 9.61, a P/E/G ratio of 1.93 and a beta of 1.19.

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

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

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.