Allstate Corp Makes New $641,000 Investment in Regions Financial Co. (NYSE:RF)

Allstate Corp purchased a new position in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 27,266 shares of the bank’s stock, valued at approximately $641,000.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RF. Barclays lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Piper Sandler upped their price objective on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup dropped their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 24th. 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 report on Friday, March 28th. Finally, Compass Point raised their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and an average price target of $27.17.

Insiders Place Their Bets

In other news, Director Joia M. Johnson acquired 2,300 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 3,868 shares of company stock worth $86,722 over the last quarter. 0.29% of the stock is owned by corporate insiders.

Regions Financial Stock Down 0.8 %

Shares of NYSE:RF opened at $21.55 on Wednesday. The stock has a 50-day simple moving average of $23.13 and a 200-day simple moving average of $23.94. The stock has a market capitalization of $19.52 billion, a P/E ratio of 11.11, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 1 year low of $17.72 and a 1 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 released its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. Regions Financial’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.64%. The ex-dividend date was Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

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.