Regions Financial Co. (NYSE:RF) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its holdings in shares of Regions Financial Co. (NYSE:RF) by 31.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,755 shares of the bank’s stock after purchasing an additional 13,587 shares during the quarter. NEOS Investment Management LLC’s holdings in Regions Financial were worth $1,335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 1,396,647 shares during the period. Geode Capital Management LLC increased its position in shares of Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after acquiring an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 1.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after acquiring an additional 112,885 shares during the period. Finally, FMR LLC lifted its holdings in shares of Regions Financial by 8.4% during the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock valued at $72,548,000 after acquiring an additional 241,838 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF opened at $21.42 on Friday. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The stock’s fifty day moving average is $23.25 and its 200-day moving average is $23.93. Regions Financial Co. has a one year low of $17.72 and a one year 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.

Regions Financial (NYSE:RF) last issued 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. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on RF shares. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Citigroup reduced their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Piper Sandler increased their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company reduced 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 report on Friday. Finally, Truist Financial lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.17.

Insider Transactions at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have bought 3,993 shares of company stock valued at $89,682. Corporate insiders own 0.29% of the company’s stock.

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.