Salzhauer Michael Lowers Stock Position in Regions Financial Co. (NYSE:RF)

Salzhauer Michael trimmed its position in Regions Financial Co. (NYSE:RF) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,833 shares of the bank’s stock after selling 1,000 shares during the quarter. Regions Financial comprises approximately 0.6% of Salzhauer Michael’s holdings, making the stock its 24th biggest position. Salzhauer Michael’s holdings in Regions Financial were worth $1,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd increased its stake 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 worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Regions Financial in the 4th quarter worth $28,000. Picton Mahoney Asset Management raised its holdings 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 valued at $29,000 after acquiring an additional 1,201 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Regions Financial in the fourth quarter valued at about $32,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of Regions Financial in the fourth quarter worth about $44,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

RF has been the subject of several recent analyst reports. Truist Financial dropped their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. cut their target price on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley decreased their price target on shares of Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Citigroup cut 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. Finally, Barclays boosted their target price on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.42.

Insider Activity

In related news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares of the company’s stock, 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 SEC, which is available at the SEC website. Over the last ninety days, insiders purchased 3,343 shares of company stock valued at $74,348. 0.29% of the stock is currently owned by company insiders.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $19.20 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.93 and a beta of 1.01. The firm’s 50-day moving average is $21.79 and its 200 day moving average is $23.60.

Regions Financial (NYSE:RF) last released its 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. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.21%. Regions Financial’s payout ratio is 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.